IFSCA Officer Grade A Recruitment 2024: Notification Released for 10 Assistant Manager Posts
The International Financial Services Centres Authority (IFSCA) has issued a notification for the recruitment of Officer Grade A (Assistant Manager) positions in 2024. This presents a fantastic opportunity for qualified individuals seeking a career in the financial services sector within India's International Financial Services Centres (IFSCs). The IFSCA is a statutory body established by an Act of Parliament to develop and regulate the financial services market in IFSCs, with GIFT IFSC in GIFT City, Gandhinagar being the first such center in the country.
Official Notification
About Job Profile
The role of Officer Grade A (Assistant Manager) at IFSCA entails diverse responsibilities related to the development and regulation of financial products, services, and institutions within IFSCs. Duties may include conducting research, analyzing market trends, formulating policies, supervising financial entities, and ensuring compliance with regulations. This position offers a unique opportunity to contribute to the growth and stability of India's IFSCs while enjoying a competitive salary and benefits package.
Vacancy Details
A total of 10 vacancies are available for Officer Grade A (Assistant Manager) positions. Out of these, 2 are dedicated to the Legal Stream, while the remaining 8 are for the General Stream. The distribution of vacancies across categories is as follows:
| Category | Vacancies |
|---|---|
| Unreserved (UR) | 3 |
| Other Backward Classes (OBC) | 3 |
| Scheduled Castes (SC) | 1 |
| Scheduled Tribes (ST) | 1 |
| Economically Weaker Sections (EWS) | 2 |
| Total | 10 |
Includes 2 posts for Legal Stream earmarked to be filled up by candidates opting for legal stream with horizontal reservation.
Salary Package
| Component | Details |
|---|---|
| Pay Scale | Rs. 44500-2500(4)-54500-2850(7)-74450-EB-2850(4)-85850-3300(1)-89150 (17 years) |
| Gross Emoluments | Approximately Rs. 1,43,000/- per month (including IFSCA's Contribution towards National Pension Scheme (NPS), Grade Allowance, Special Allowance, Dearness Allowance, Family Allowance, Local Allowance etc.) |
| Other Benefits | 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 |
Eligibility Criteria
| Criteria | Details |
|---|---|
| Age Limit (as on 01.02.2024) | Not exceeding 30 years (relaxable up to 5 years for SC/ST, 3 years for OBC, 10 years for PwBD, and 5 years for Ex-servicemen) |
| Educational Qualification (General Stream) | 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 appearing in “CA, CFA, CS and ICWA. OR Bachelor’s degree in Law or in any other discipline from a recognized University. |
| Educational Qualification (Legal Stream) | Bachelor’s Degree in Law from a recognized University/Institute. |
Key Dates
| Activity | Dates |
|---|---|
| Online Application and Payment of Fee | 28.03.2024 to 21.04.2024 |
| Phase I Online Examination | May/June 2024 |
| Phase II Online Examination | June/July 2024 |
| Phase III Interview | To be intimated |
How to Apply?
Candidates must apply online through the IFSCA website (www.ifsca.gov.in) between March 28, 2024, and April 21, 2024. No other mode of application will be accepted. Before applying, candidates should scan their photograph, signature, left thumb impression, and a handwritten declaration as per the specifications provided in the official notification. The application fee for Unreserved/OBC/EWS candidates is Rs. 1000/-, while SC/ST/PwBD candidates need to pay Rs. 100/- as intimation charges.
Documents needed to apply
- Scanned photograph (4.5cm × 3.5cm)
- Scanned signature (with black ink)
- Scanned left thumb impression (on white paper with black or blue ink)
- Scanned handwritten declaration (on a white paper with black ink)
Selection Process
| Phase | Details |
|---|---|
| Phase I (Online Screening Examination) | Two papers of 100 marks each (Multiple Choice Questions): Paper 1 (General Awareness, English Language, Quantitative Aptitude, Reasoning) and Paper 2 (General Knowledge, Current Events, Economic and Social Development, Commerce, Accountancy, Management, Finance, Costing, Indian Economy, Global Economy, Five-Year Plans, Central Government’s initiatives/ Schemes in the financial sector for General Stream / Specialized subject related to stream for Legal Stream). |
| Phase II (Online Examination) | Two papers of 100 marks each: Paper 1 (English Descriptive Test) and Paper 2 (Multiple Choice Questions on subjects like IFSCA Act, Union Budget, Economic Survey, Banking, Capital Market, Insurance, Pension Funds, Bullion, GIFT City, GIFT IFSC, IFSCA, Global Financial Centres etc. for General Stream / Specialized subject related to stream for Legal Stream). |
| Phase III (Interview) | Candidates shortlisted from Phase II will be called for an interview. |
Exam Pattern
| Phase | Paper | Subjects | Marks | Duration | Cut-off |
|---|---|---|---|---|---|
| Phase I | Paper 1 | General awareness (financial sector), English language, Quantitative Aptitude, Test of Reasoning | 100 | 60 minutes | 30% |
| Paper 2 (General Stream) | General knowledge, Current events, Economic and social development, Commerce, Accountancy, Management, Finance, Costing, Indian Economy, Global Economy, Five-year plans, Central Government’s initiatives/ Schemes in the financial sector | 100 | 60 minutes | 40% | |
| Phase I | Paper 2 (Legal Stream) | Specialized subject related to stream | 100 | 60 minutes | 40% |
| Phase II | Paper 1 | English (Descriptive Test) - Precis Writing, Essay writing, Comprehension | 100 | 60 minutes | 30% |
| Paper 2 (General Stream) | IFSCA Act, Union Budget, Economic Survey, Banking, Capital Market, Insurance, Pension Funds, Bullion, GIFT City, GIFT IFSC, IFSCA, Global Financial Centres etc. | 100 | 60 minutes | 40% | |
| Phase II | Paper 2 (Legal Stream) | Specialized subject related to stream | 100 | 60 minutes | 40% |
Best Books
- Quantitative Aptitude for Competitive Examinations by R.S. Aggarwal
- A Modern Approach to Verbal & Non-Verbal Reasoning by R.S. Aggarwal
- Objective General English by S.P. Bakshi
- Indian Economy by Ramesh Singh
- Financial Management by Prasanna Chandra
Frequently Asked Questions
- Can I apply for both General and Legal Streams?
No, candidates can only apply for one stream based on their educational qualifications. - What is the application fee for SC/ST/PwBD candidates?
The application fee for SC/ST/PwBD candidates is Rs. 100/- as intimation charges. - What is the selection process for IFSCA Officer Grade A Recruitment 2024?
The selection process consists of three phases: Phase I (Online Screening Examination), Phase II (Online Examination), and Phase III (Interview).
