Dear Anjali,
This is a great initiative, and I believe, very useful to those NGOs/MFIs who are growing, and who have not yet been rated by a bank approved rating agency... As Srinivasan says, bank-approved ones will be need for raising loan or equity funds in India... however, a preparatory check by volunteers will be useful for practitioners.
It will also be important to share the rating criteria, and not being bound by the demands of investing agencies, it may be that some new and different criteria emerge for rating. For instance, development of a set of rating criteria for community based MFIs will be an interesting area to work on.
Best wishes,
Smita
On 14 March 2013 13:41, Anjali Kapoor <anjali@theflatpyramid.com> wrote:
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--Anjali Kapoor | The Flat Pyramid | Access of All, For All |
| E: anjali@theflatpyramid.com | www.theflatpyramid.com
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