CreditAccess Grameen Limited (Formerly known as Grameen Koota Financial Services pvt. Ltd) was awarded the official Seal of Transparency from MFTransparency as part of its Transparent Pricing Initiative in India. As per MFtransparency, CreditAccess Grameen’a firm commitment to consumer protection and responsible microfinance was primarily the basis of awarding the seal to the organization.
MicroFinance Transparency is an international non-governmental organization founded in 2008 with the purpose of facilitating transparent markets through the dissemination of true cost information to all market stakeholders. MFTransparency represents an industry movement toward fair practices and responsibility. MFTransparency launched the Transparent Pricing Initiative in India in April 2010 with widespread support from a range of industry actors as sponsors of the Initiative. The Indian microfinance market as a whole has shown a strong commitment to developing an enabling environment for transparent pricing. MFTransparency awards transparency certification to all MFIs who submit data and commit to educating their clients on pricing.