A STUDY ON PERCEPTION OF REVERSE MORTGAGE IN INDIA WITH SPECIAL REFERENCE TO BENGALURU CITY

Abstract Reverse Mortgage is a financial product offered by financial institutions to senior citizens in India. It was introduced in 2007 to provide senior citizen homeowners with the opportunity to continue living in their homes while receiving either a monthly or lump-sum payment from financial institutions. These payments can be used to support their livelihood and cover various expenses. However, despite its potential benefits, reverse mortgage has not gained significant popularity in the country. This paper aims to explore the perceptions of respondents regarding reverse mortgage, while also identifying the key barriers to its adoption and the potential prospects for its growth in India.