The issue is not just about low-cost or free ratings. The acceptability of these ratings to lending banks and the country regulator is a critical concern. In India only rating agencies accredited by the Central bank do the rating which can be relied upon by banks for any loan in excess of about one million USD. While MFI staff can learn some useful skills, the rating done by VolunteeRate may not be useful in satisfying banks for funding decisions.
Regards
Srinivasan
From: Anjali Kapoor <anjali@theflatpyramid.com>
To: MicrofinancePractice@yahoogroups.com
Sent: Thursday, 14 March 2013 1:41 PM
Subject: [MFP] VolunteeRate - Open, Objective & Free Ratings for MFIs by (Trained) Volunteers
Dear Practitioners,
VolunteeRate is a global initiative to offer open, objective and free ratings to MFIs by micro finance practitioners or mainstream finance professionals who successfully undergo a fortnight of online comprehensive modular self certification training in rating methodology.
We believe current ratings are expensive (~$5000-$10,000), particularly for small, non-profit & community development MFIs. Moreover, due to the perennial client-agency relationship, there is and will always be a conflict of interest.
VolunteeRate is evolving and we are excited to seek feedback and continuously improve.
We are 'Live' in India and are actively seeking individual/institutional partners to champion VolunteeRate on other continents.
Visit us at www.volunteerate.com
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Anjali Kapoor | The Flat Pyramid | Access of All, For All |
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