Colonel Surendra Pal Chauhan is 76 and is the owner of a house in Sector 37 in Noida. Like innumerable retired defence personnel, the house is all he really owns, and located as it is in the National Capital Region, close to New Delhi, it is not without value.
But 10 years ago, when Col Chauhan wanted to do a reverse mortgage on the house because he desperately needed Rs 30 lakh, he went from bank to bank and finally gave up.
At that time (we are talking about 2007-2008), the reverse mortgage scheme had just been launched. . .