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SEBI Grade A (Assistant Manager)

SEBI Grade A recruits Officer Grade A (Assistant Manager) staff for the Securities and Exchange Board of India across seven streams: General, Legal, Information Technology, Research, Official Language, Engineering (Electrical) and Engineering (Civil). The current cycle is the Officer Grade A 2025 recruitment notification (110 posts).

At a glance
Conducted by Securities and Exchange Board of India (SEBI)
Cycle Officer Grade A 2025 — applications Oct 30 – Nov 28, 2025; Phase I Jan 10, 2026; Phase II Feb 21, 2026
Vacancies 110 total across 7 streams: General 56 · Legal 20 · Information Technology 22 · Research 4 · Official Language 3 · Engineering (Electrical) 2 · Engineering (Civil) 3
Stages Phase I (two 100-mark online screening papers) → Phase II (two 100-mark online papers) → Phase III interview
Age (as on Sep 30, 2025) Must not have exceeded 30 years (born on or after Oct 01, 1995); relaxations: SC/ST 5 years, OBC (Non-Creamy Layer) 3 years, PwBD 10 years (13 years for OBC, 15 years for SC/ST), Ex-servicemen 5 years
Qualification Stream-specific. General stream: Master's degree / Post Graduate Diploma (minimum two years) in any discipline, or Bachelor's in Law, or Bachelor's in Engineering, or CA / CFA / CS / Cost Accountant. Other streams require specified degrees (see notification)
Application fee ₹1,000 + 18% GST (Unreserved/OBC/EWS) · ₹100 + 18% GST intimation charges (SC/ST/PwBD)
Cut-offs Phase I: Paper 1 min 30%, Paper 2 min 40%, aggregate 40% (screening only, not counted for final selection). Phase II: Paper 1 min 30%, Paper 2 min 40%, weighted aggregate 50% (1/3 Paper 1 + 2/3 Paper 2); candidates equal to ~3× vacancies shortlisted for interview
Final weightage Phase II 85% + interview 15% (for Legal, Electrical and Civil streams, up to 3.75 marks of interview weight is awarded for relevant post-qualification experience)
Negative marking 1/4th of the marks assigned to each question deducted for wrong answers (both Phase I papers; Phase II multiple-choice questions only)

Official sources

Exam pattern

Phase I (online screening, Jan 10, 2026). Two papers of multiple-choice questions, 100 marks each, set bilingually in Hindi and English except the English test: - Paper 1 (all streams): Multiple-choice questions on General Awareness (including financial sector questions of easy to moderate difficulty), English Language, Quantitative Aptitude, and Test of Reasoning — 100 marks, 60 minutes, 30% cut-off (no sectional cut-offs within Paper 1). - Paper 2 (stream-specific): Multiple-choice questions on the specialized subject — 100 marks, 40 minutes, 40% cut-off. For the General stream, questions cover Commerce, Accountancy, Management, Finance, Costing, Companies Act, and Economics. For other streams, questions test that stream's specialized discipline. - Scoring & shortlisting: −1/4 per wrong answer in both papers. Candidates must secure separate cut-offs in each paper (30% in Paper 1, 40% in Paper 2) and an aggregate cut-off of 40% across Phase I. All candidates clearing these cut-offs qualify for Phase II. Phase I marks are screening only and are not counted in the final selection merit list.

Phase II (online examination, Feb 21, 2026). Two papers of 100 marks each: - Paper 1 (all streams): English (Descriptive Test) to test drafting skills (précis writing, essay writing, and comprehension) — 100 marks, 60 minutes, 30% cut-off, weightage 1/3rd in the Phase II aggregate. - Paper 2 (stream-specific): 100 marks, 40% cut-off, weightage 2/3rd in the Phase II aggregate: - General stream: Multiple-choice questions on Commerce, Accountancy, Management, Finance, Costing, Companies Act, and Economics — 90 minutes. - Legal stream: 70 one-mark MCQs (60 minutes) plus 3 descriptive questions of 10 marks each (60 minutes) — 120 minutes total. - Information Technology stream: MCQs on logic flow completion, debugging, syntax understanding, program dry-run outputs, and data analysis — 180 minutes. - Research stream: Descriptive examination testing practical in-depth knowledge and drafting skills in economics, financial markets, and statistics — 120 minutes. - Official Language stream: Translation (English to Hindi, Hindi to English) and administrative noting tasks — 90 minutes. - Engineering (Electrical) and Engineering (Civil) streams: MCQs on the specialized engineering subject — 40 minutes each. - Scoring & shortlisting: −1/4 per wrong answer on multiple-choice questions in Phase II Paper 2 (no negative marking on descriptive questions). Candidates must score at least 30% in Paper 1, 40% in Paper 2, and a weighted aggregate of 50% (1/3 Paper 1 + 2/3 Paper 2). Merit-ordered candidates equal to 3 times the vacancies are called for the Phase III interview.

Phase III (Interview). Candidates may opt to be interviewed in Hindi or English. Final selection weights Phase II 85% and interview 15%. For Legal, Engineering (Electrical) and Engineering (Civil) streams, up to 3.75 marks (25% of the 15-mark interview component) is awarded for relevant post-qualification experience.

Syllabus

Phase I Paper 1 (all streams): General Awareness (including financial sector awareness), English Language, Quantitative Aptitude, and Test of Reasoning.

Paper 2 (General stream — common syllabus for Phase I and Phase II): - Commerce & Accountancy: Accounting as a financial information system, Accounting Standards (AS & Ind AS), Cash Flow Statement, Fund Flow Statement, financial statement analysis, ratio analysis, accounting for share capital transactions (bonus and rights shares), ESOP, buy-back of securities, preparation and presentation of company final accounts. - Management: Nature and scope, management processes (planning, organizing, staffing, directing, controlling), role of a manager, leadership styles and theories (successful vs effective leader), Human Resource Development (concept and goals), motivation theories, morale and incentives, communication channels and barriers, role of IT. - Finance: Financial system and regulatory bodies (SEBI, RBI, IRDAI, PFRDA), primary and secondary markets (money, bond, forex, equity markets and instruments), basics of derivatives (forwards, futures, swaps), recent financial sector developments, financial inclusion, alternate sources of finance, public-private partnerships (PPP), direct and indirect taxes, GST, Finance Commission, Fiscal Policy and FRBM Act, inflation (WPI and CPI). - Costing: Overview and scope of cost and management accounting, methods of costing (unit, job, batch, contract, process, service), cost control and analysis (standard costing, marginal costing, budgetary control), lean systems and process innovation (Just-in-Time, Kaizen, 5S, Total Productive Maintenance, cellular manufacturing, Six Sigma, Business Process Re-engineering). - Companies Act, 2013: Specific focus on Chapter III (Prospectus and Allotment), Chapter IV (Share Capital and Debentures), Chapter VIII (Declaration and Payment of Dividend), Chapter X (Audit and Auditors), Chapter XI (Appointment and Qualifications of Directors), Chapter XII (Meetings of Board and its Powers), and Chapter XXVII (National Company Law Tribunal and Appellate Tribunal). - Economics: Demand and supply analysis, market structures, national income measurement, classical and Keynesian models of output and employment, consumption and investment functions, multiplier and accelerator, money demand and supply, IS-LM model, inflation and Phillips Curve, business cycles, balance of payments, foreign exchange markets, monetary and fiscal policy, non-banking financial institutions (NBFCs).

Phase II Paper 1 (all streams): English Writing Skills — précis writing, essay writing, and reading comprehension.

How to prepare (free, in order)

  1. Target Paper 2 subjects from day one: Commerce, Management, Finance, Costing, Companies Act, and Economics are common to both Phase I Paper 2 and Phase II Paper 2. Because Phase II accounts for 85% of the final merit score, mastering these six core areas provides direct dual leverage for both phases.
  2. Clear Phase I Paper 1 qualifying cut-offs: Even though Phase I marks do not count towards the final ranking, you must clear the 30% cutoff in Paper 1 and 40% aggregate. Practice quantitative aptitude, reasoning, and reading comprehension daily using timed sectional practice.
  3. Study primary financial sector and regulatory sources: Read SEBI investor education material (<https://investor.sebi.gov.in>), SEBI Annual Reports, RBI reports and circulars (<https://www.rbi.org.in>), and the Union Budget / Economic Survey for macroeconomic and capital market trends. Primary publications reflect the exact regulatory depth and terminology tested.
  4. Read the bare provisions of the Companies Act, 2013: Focus exclusively on the seven chapters specified in the syllabus (Chapters III, IV, VIII, X, XI, XII, XXVII) directly from official legislative sources (<https://www.mca.gov.in>).
  5. Practice keyboard-typed English drafting weekly: Phase II Paper 1 carries 100 marks (1/3rd of the Phase II weight). Practice typing essays, précis, and comprehension answers under timed conditions on a computer keyboard to build speed and concise expression.
  6. Attempt timed full-length mocks with negative marking: Internalize the 40-minute constraint for Phase I Paper 2 (100 marks) and the 90-minute window for Phase II Paper 2. Strictly adhere to negative marking (−1/4) discipline by eliminating wild guessing.

Free resources