Cord blood preservation has been a common practice at the time of delivery for so many years in India. It involves lot of money and is run mainly by the private companies. Whether the collection of blood is done by experts and cold chain is maintained for transport and preservation and what use it is going to serve is a question of debate. So many countries in the Europe and the West has banned this procedure for use by family, though at certain places it is allowed for community pooling.
In India, there are no guidelines. The topic is open for discussion and comments, especially if someone is aware of its actual utility or it's just a money business.