Jobs are mostly announced internally and reference is preferred. When a candidate's CV is shortlisted, they'll get a call and a telephonic interview be scheduled. If telephonic interview goes well, they'll be called for test and interview. Test is technical. Usually there are 3-4 interviews including an HR interview. Afterwards, you may get a hint that you are accepted. Or you have to wait till you get an initial offer. If you accept the initial offer, an internal process is initiated which may take longer...

It is fair process. It gives equal opportunities but BE candidates are preferred firstly. They should consider all the candidates on equal level irrespective of their education. they should consider the experience and the skills