<h1>India's New Reverse Mortgage Scheme Offers Seniors Income Without Monthly Repayments, Exempts Capital Gains.</h1> The Central Government of India has introduced a reverse mortgage loan scheme to provide senior citizens with an additional income source. The scheme, exempting capital gains from reverse mortgage transactions, allows senior citizens to mortgage their self-acquired and self-occupied homes to banks, such as SBI and National Housing Bank, in exchange for periodic payments. Eligibility requires borrowers to be over 60, with a clear property title and a permanent residence. The loan becomes repayable upon the borrower's death or sale of the property, with repayment options including property sale proceeds or prepayment by heirs. The scheme aims to address financial needs without requiring monthly repayments from seniors.