The move is understood to have been spurred by a vital need for an "authoritative" and "authentic" ranking system, inform ad industry sources.

In an effort to seek feedback on this initiative, AAAI has dashed off formal letters to all its members across the country, confirm agency chiefs in Mumbai.

Currently, the AAAI has over 80 advertising agencies on its rolls. Says an ad industry source: "Yes, the AAAI is seriously exploring the possibility of instituting its own agency rating system very soon. This would assume importance given the fact that AAAI members account for almost 80 per cent of the industry's adspend."

At present, the only report on advertising agency ratings is the A&M Agency Report, which is considered to be the bible for the advertising industry.

However, many agency heads have recently raised questions on the authenticity of the A&M Agency Report. Moreover, many medium-sized agencies have not sent their audited reports for A&M's annual survey which compiles the ratings. The doubt was, in fact, raised when the latest A&M Agency Report skipped the second largest agency - Lowe Lintas & Partners - from its rankings as the agency could not provide its audited figures on time.

Comments Lowe Lintas & Partners managing director Mr Prem Mehta: "I would welcome any rating system which is professionally conducted. I believe that the performance of agencies should take into account the size and the scale on comparable parameters, and the quality of the agencies' products as judged by the performance in the marketplace."

Says a leading advertising professional in Mumbai, on condition of anonymity: "Currently there exist no authentic reports based on audited figures. Besides, many agencies which feature in the list are very small.

They are not even members of AAAI. So they are not bound by any industry norms. Many of them are too small to host their AGMs. So where's the question of submitting audited results?"

Hence, recognising the vital need for an authentic agency rating system in the industry, many agencies are believed to have requested the AAAI to be a nodal agency for disseminating vital information on Indian advertising agencies.

The AAAI is a national organisation of advertising agencies formed to promote their interests. Its main objective is to benefit Indian consumers and to protect their interests by ensuring that advertising is honest and in good taste, say industry sources.