Question:
Who among the following are the main beneficiaries of the “Reverse Mortgage Scheme”?
Who among the following are the main beneficiaries of the “Reverse Mortgage Scheme”?
Updated On: June 02, 2025
- Working Government Employees
- Senior Citizens
- Students
- Foreign Investors
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The Correct Option is B
Solution and Explanation
The Reverse Mortgage Scheme is primarily designed for senior citizens, allowing them to convert their property into a regular income stream while retaining ownership. Under this scheme, senior citizens can avail of a loan against their residential property, with the loan amount being paid to them in the form of monthly payments or lump sum. The Reverse Mortgage Scheme helps senior citizens sustain their living standards by providing a financial lifeline in their later years.
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