BCCI Vice President Lalit Modi, however, refused to divulge the prize money for the same, saying that this has been kept a secret so that players do not get individualistic and play only for themselves to bag the awards.
Modi, while launching the ratings, which will cover all segments including batsmen, bowling, fielding and all-round performance, said the official ratings have been introduced to reward performances, which largely remain unrecognised, especially in domestic cricket.
The categories are: Best Test and ODI batsman, bowler, fielder and all-rounder; best Test and ODI opening batsman, most consistent/reliable ODI and Test player; Best Test and ODI innings of the year.
The popular categories are: Test and ODI player of the year; My favourite player; Most stylish player and master blaster of the year while viewers' voting categories would include Player of the Week and My favourite player.
The ratings system is done based on parameters defined by a BCCI panel, which will include cricketers and statisticians. For the first time public would be able to participate in the ratings process by casting their votes through various channels, Modi said.
The BCCI ratings process is being done in partnership with Percept Holdings, while BCCI along with Ernst and Young, will ratify the process for the ratings, he added.