Tuesday, October 10, 2006

Fair practice code

NHB has issued a Fair practice code for Housing Finance companies on 5th September, 2006. Better late than never.

The maturity level of the personal finance market has a long way to go especially in loans, credit cards, insurance and of course mutual funds.

It also reflects the maturity of the players/institutions themselves. Just see the change in Home finance market after ICICI came in. And they have been rewarded with the mantle of market leader with more than 30% market share in 5 years.

(Rs 25740 crore disbursement by ICICI alone in 2005-06. In 2001-02, the entire disbursement in India was Rs 23858.43 crore )
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