Volume: 4, Issue: 2
INTRODUCTION
The word" Reverse" to a common man finds association to automobile (Such as taking the car back). This word has its share in modern one-day cricket like reverse swing in bowling and reverse sweep in batting. In banking this word is associated with RBI financing to bank like reverse repo. In stock market parlance it is associated to reverse spilt. Such association of this word can be further taken and found in other areas as well. One new area where this word now finds it mention and the practice in the clays to come is the MORTGAGE. The Finance Minister in his recent budget has introduced Reverse Mortage.This concept is new to the "Aam Adami" in India though for experts it is not. This concept is widely practiced for years in countries like UK and USA hence in world of Finance it is a settled concept. Aging society is one of the most representative demographic characteristics. An average life expectancy has greatly increased and living conditions for the elderly also has continuously been improved. The number of elderly population has been greatly increased and this trend will be continued in the next decades. The welfare and housing problems of the elderly people will be great social issues in the near future. Pension is not enough to cover the living costs. Therefore, the elderly people have suffered the shortage of their living costs and it will be gradually deteriorated.
