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 )