IFSCA Grade A Exam 2023 - Complete Details

About IFSCA Grade A Exam

International Financial Services Centres Authority (IFSCA) is a statutory regulatory body established by an Act of Parliament, to develop and regulate the financial services market in the International Financial Services Centres in India. GIFT IFSC in GIFT City, Gandhinagar is the maiden IFSC in the country. The IFSC Authority has been empowered to exercise the powers of RBI, SEBI, IRDAI, and PFRDA in respect of financial products, financial services, and financial institutions in the IFSC. IFSCA is conducting the recruitment of candidates for the post of Assistant Manager. A total of 20 vacancies are up for grabs. This page will cover the overview of the notification released by IFSCA.

IFSCA Grade A 2023 Exam - Overview

It is very important to know about the exam in which you are going to appear. Check out the below table for some important details of the IFSCA Grade A Exam. Also note that at the end of the article, you will find various important blog links that you can check.

IFSCA Grade A 2023 - Important Dates

The important dates for the IFSCA Grade A 2023 Recruitment process are given below. The exact exam dates are not yet out, these will be updated once out.

IFSCA Grade A 2023 - Eligibility Criteria

Candidates wishing to apply for the IFSCA Grade A exam should know the eligibility criteria before applying. Applicants who do not meet the criteria will not be allowed to attempt the exam. In other cases, candidates may be disqualified if they're found to not satisfy the eligibility criteria in later stages. To prevent such issues, the following section provides information on the IFSCA Grade A 2023 Eligibility Criteria, which the candidates should go through to determine if they're eligible for the exam. The candidates must satisfy various criteria like age, educational qualification, etc.

Educational Qualification

• Master's Degree with specialization in Statistics/Economics/Commerce/Business Administration (Finance)/Econometrics

                                                                 OR

• Bachelor's degree in Information Technology/Computer Science/Master's in Computer Application/Information Technology

                                                                OR

• Bachelor's degree in commerce with CA, CFA, CS, ICWA.

                                                                OR

• Bachelor's degree in Law or in any other discipline from a recognized University.

To be more clear, any candidate with any Bachelor's or Master's Degree from any recognized university is eligible to apply.

Age Limit (as on 01.02.2023)

1. A candidate must not have exceeded the age of 30 years as on February 1, 2023.
2. The upper age limit prescribed above will be relaxable: 
   a. up to a maximum of five years for candidates belonging to a Scheduled Caste or a Scheduled Tribe if the posts are reserved for them; 
   b. up to a maximum of three years in the case of candidates belonging to Other Backward Classes who are eligible to avail of reservation applicable to such candidates if the posts are reserved for them;
3. Only those candidates belonging to the 'Non-Creamy Layer' are eligible to apply under OBC Category. The OBC candidates who belong to the 'Creamy Layer' are not entitled to apply under OBC Category. Candidates belonging to the OBC category but coming in the 'Creamy Layer' are not entitled to OBC reservations. They should indicate their category as ‘Unreserved'. Candidates belonging to the OBC a. (NCL) category should have OBC (NCL) valid certificate but earlier than the due date (closing date) of the application.
4. A relaxation of 10 (ten) years for PwBD candidates shall be applicable whether the post is reserved or not. Relaxation of 13 (thirteen) years for PwBD (OBC) candidates where vacancies are reserved for OBC candidates. Relaxation of 15 (fifteen) years for PwBD (SC/ST) candidates where vacancies are reserved.
5. Candidates belonging to the Scheduled Castes and Scheduled Tribes and the Other Backward Classes who are also covered under the category of Persons with Benchmark Disabilities will be eligible for a grant of cumulative age relaxation.

IFSCA Grade A Application Fees 2023 

Without the application fee, no IFSCA Grade A Application Form will be accepted. The candidates must make sure that they pay the application fee as per the category they belong to.

IFSCA Grade A Vacancy 2023

A total number of 20 vacancies have been released for IFSCA Grade A Exam. The category wise distribution of vacancies is given below.

IFSCA Grade A Exam Pattern 2023

IFSCA Grade A Recruitment will be conducted in the following 3 phases-

1. Phase 1: Online Exam (Preliminary)
2. Phase 2: Online Exam (Mains)
3. Phase 3: Interview

The following is the exam pattern for the online exams:

IFSCA Grade A Preliminary Exam Pattern 2023

The Preliminary Exam is divided into two papers. Each paper will be conducted for 100 marks. A separate duration of 60 minutes is allotted to each paper. Check out the detailed IFSCA Grade A Exam Pattern in the table below.

1. There shall be negative marking (1/4th of marks assigned to the question) for Paper 1 and Paper 2 in Phase I.
2. There shall be a cut-off of a minimum of 30% for Paper 1 (no sectional cut-off shall be there) and a cut-off of a minimum of 40% for Paper 2 in Phase I.
3. Candidates would need to secure a separate cut-off in each paper as mentioned in (ii) above as well as aggregate cut-off marks of 40% in the Phase I exam to be shortlisted for Phase II. Marks obtained in Phase I shall be used only for shortlisting the candidates for the Phase II examination process and will not be counted for the final selection of the candidates.
4. Subject to the criteria mentioned in (iii) above, all the candidates who clear Phase I shall be shortlisted for Phase II. A list of candidates shortlisted for Phase II will be made available on the IFSCA website.

IFSCA Grade A Mains Exam Pattern 2023

The candidates who will clear the prelims exam will be eligible to sit for the mains exam. The mains exam is again divided into two papers i.e. Paper 1&2 respectively. Paper 1 contains 1/3rd weightage & Paper 2 contains 2/3rd weightage.

1. Candidates shortlisted for Phase II will be issued new Hall Tickets.
2. There shall be a negative marking (1/4th of marks assigned to the question) for Paper 2 in Phase II
3. There shall be a cut-off of a minimum of 30% for Paper 1 and a cut-off of a minimum of 40% for Paper 2 in Phase II
4. Candidates would need to secure separate cut-offs in each paper as mentioned above as well as aggregate cut-off marks of 40% in the Phase II exam (weightage of 1/3rd for Paper 1 and 2/3rd for Paper 2) to be shortlisted for Phase III.
5. Subject to the criteria mentioned above, candidates equaling 3 times the number of vacancies shall be shortlisted, in order of merit, for Phase III i.e. the Interview. A list of candidates shortlisted for Interviews will be made available on the IFSCA website.

IFSCA Grade A Interview 2023

Only the shortlisted candidates will be called for the interview. The application fee shall not be refunded to the candidates not shortlisted for Phase II and Interview. The weightage of marks obtained in Phase II will be 85%, while marks obtained in the interview shall be given a weightage of 15%.

IFSCA Grade A Application Process

To make your application process smooth, we have listed down the steps that you can follow.

1. Visit ifsca.gov.in
2. Under the What's New tab, check the heading of Career for Feb 11, 2023.
3. Click on the Registration link for recruitment of Officer Grade-A (Assistant Manager) in IFSCA
4. Click on the PDF icon under Details.
5. Click on the link provided in the PDF and select 'Open Link'
6. The Registration Page will open. Select the 'Click here for New Registration' Tab.
7. Enter you basic information like name and contact information. Double check to remove errors.
8. Enter the security code then click Save and Next.
9. Proceed to upload the photograph and signature after checking the guidelines provided.
10. Enter any further details as asked by IFSCA.
11. Preview the registration form and upload any more documents asked.
12. Proceed to payment.
13. Make sure to download the proof of payment and check your mail for the registration proof

IFSCA Grade A Salary

The following are the details of the service conditions, salary, probation period, etc.

Probation:

The successful candidates recruited for the post of Officer Grade ‘A' shall undergo probation of two years. The candidates shall be confirmed in the services of IFSCA subject to their satisfactory performance during the probation period.

Pay:

The pay scale of officers in Grade A is Rs. 44500-2500(4)-54500-2850(7)-74450-EB-2850(4)-85850-3300(1)- 89150 (17 years).

Presently, the gross emolument including IFSCA's Contribution towards the National Pension Scheme (NPS), Grade Allowance, Special Allowance, Dearness Allowance, Family Allowance, Local Allowance, etc. at the minimum of this scale is approx. Rs. 1,43,000/- p.m..

Benefits:

Other benefits viz., Leave Fare Concession, Medical Expenses, Eye Refraction, Education Allowance, Financial Dailies, Book Grant, Briefcase, Conveyance Expenses, House Cleaning Allowance, Staff Furnishing Scheme, Scheme for Purchasing Computers, Subsidized Lunch Facility and all other benefits as admissible to an Officer in Grade A in IFSCA.

Posting:

The incumbent may be posted and transferred to any location in India or abroad where IFSCA has its Offices. The recruited officers may be posted to any department of IFSCA

IFSCA Grade A Exam Centers

The Phase I and Phase II on-line exams will be held in the following centers:

Candidates can provide their preference of up to three centers for Phase I and one center for Phase II in the online application. The choice of Center by candidates for Phase I and Phase II Examinations can be different and must be indicated in the online application. Candidates will appear for the examination at an Examination Centre at their own risk and expense. IFSCA does not make any arrangements for the boarding/lodging of candidates. IFSCA will not be responsible for any injury or losses etc. of any nature during the course of the Examination.

NB: Notwithstanding the aforesaid provision, IFSCA reserves the right to change the Centres at its discretion. Candidates admitted to the examination will be informed of the timetable and place or places of examination. The candidates should note that no request for a change of center will be entertained.

The venue for the Interview will be intimated to the shortlisted candidates in their interview call letters.

Also, check out the following given links: