Millions of hard-up retirees in India are sitting on a potential source of monthly income—their homes

It’s a 20-year-old idea that never took off: India recognized its potential long ago. The Reserve Bank of India issued reverse mortgage guidelines in 2007, with National Housing Bank extending this facility via other banks. Yet, the market remains non-existent. The reasons may include a strong bequest motive, weak property titles, risk aversion by banks and limited awareness of complex products for elders.