Narendra Modis Prime Ministerial Visits

1. Uzbekistan (6 July)
President Islam Karimov
PM Shavkat Mirjyoyev
Capital Tashkent
Currency Uzbekistan Som
Agreements Signed (7):
1. Economic and Strategic ties : Enhance strategic, economic and energy ties along with
reviewing key regional issues including the situation in Afghanistan.
2. Joint Working Group on Counter Terrorism : To intensify security cooperation and
exchanges for combating terrorism, promoting regional integration and advancing stability
in the region.
3. Defence and cyber security : Enhance cooperation in the fields of defence and cyber
security.
4. Uranium supply contract: Implement the contract which was signed in 2014 for supply of
2,000 metric tonnes of the Uranium from mineral rich Uzbekistan to India.
5. Strengthening cooperation : In the areas of information technology, agriculture and
energy.
6. International North South Transport Corridor (INSTC): India asked Uzbekistan to be part of
INSTC similar to Ashgabat Agreement which is s a transit pact between Uzbekistan, Iran,
Turkmenistan and Oman established in 2011.
7. It should be noted that INSTC is a ship, road and rail route for moving freight between
India, Iran, Russia, Europe and Central Asia.
Narendra Modis Prime Ministerial Visits:
2. Kazakhstan (7th July):
President : Nursultan Nazarbayev
PM : Karim Massimov
Capital : Astana
Currency : Tenge
Agreements Signed (5) :
1. Agreement on Defence and Military : Both nations will form joint working group (JWG) on
counter terrorism, defence training, exercise and production of defence equipment.
2. MoU on Cooperation on Physical Cultural and Sports : It was signed between Indias
Ministry of Youth Affairs and Sports and Kazakhstans Ministry of Culture and Sports.
3. MoU on Technical Cooperation in the field of Railways : It was signed between Indias
Ministry of Railways and Kazakhstan Temir Zholy.
4. Agreement on Transfer of Sentenced Persons : It will facilitate swapping to prisoners from
both countries to serve their remaining sentence in home country.
5. Agreement on supply of Uranium to India : Kazakhstan the worlds largest producer of
uranium will supply a total of 5,000 tonnes of the natural uranium to India during the 201519.
# Apart from signing these agreements, India has also shown interest in :
1. Fertilizer sector in Kazakhstan due to abundance availability of Natural Gas.
2. Hydro carbon sectors of Kazakhstan for drilling and production of crude oil
Narendra Modis Prime Ministerial Visit:
3. Turkmenistan (10-11 July)
President : Gurbanguly Berdimuhamedow
PM : Akja Nurberdiyewa
Capital : Ashgabat

Currency : Turkmen New Manat

Agreements Signed (7) :
1. MoU on Supply of Chemical Products : It was signed between the Indias Rashtriya
Chemicals and Fertilizers Limited and the Turkmenistans Turkmenhimiya.
2. MoU Foreign Service Institutes of both nations: It was signed between Foreign Service
Institute of the Ministry of External Affairs of India and Institute of International Relations of
the Ministry of Foreign Affairs of Turkmenistan.
3. Agreement on Cooperation in the field of Sports: It was signed between Union Ministry of
Youth Affairs And Sports of India and State Committee for Sport of Turkmenistan.
4. Programme of Cooperation In Science And Technology: It was signed between both
governments for the period of two years viz. 2015-2017.
5. MoU on Cooperation in Yoga and Traditional Medicine: It was signed between respective
entities of both governments.
6. MoU on Cooperation in the Field Of Tourism: It was signed between respective entities of
both governments.
7. Agreement in the field of Defence: It was signed between respective entities of both
governments.
Narendra Modis Prime Ministerial Visit:
4. Tajikistan (12 July):
President : Emomalli Rahmon
PM : Kokhir Rasulzoda
Capital : Dushanbe
Currency : Somni
Agreements Signed (2) :
1. Programme of Cooperation (POC) in the field of Culture : It was signed between Ministries
of Culture of India and Tajikistan for the years 2016-18. It envisages cooperation in the field
of culture between both nations through exchange of expertise for protection, preservation
and promotion of cultural heritage. It also seeks to exchange of information and experts and
organization of cultural days for greater cultural understanding between the countries.
2. Exchange of Note Verbale (NV) on setting up of Computer Labs : It conveys the intention
of India to set up computer labs in 37 schools in Tajikistan. With this initiative Indias seeks
to support Tajikistan in human resource and skill development efforts.
#Besides signing these pacts, both leaders Prime Minister Narendra Modi and his
counterpart Emomali Rahmon, President of Tajikistan agreed to promote the International
North South transport corridor (INSTC). Both nations also pledged to further deepen their
cooperation to fight the menace of radical terrorism and agreed to step up defence ties
besides boosting trade and investment
Narendra Modis Prime Ministerial Visit:
5. Kyrgyzstan (12 July):
President : Almazbek Atambayev
PM : Temir Sariyev
Capital : Bishkek
Currency : Som
Agreements Signed (4) :
1. Agreement on Defence Cooperation: It was signed to deepen cooperation between both
countries in matters relating to security, defence, military education and training.

. It also covers provisions to conduct of joint military exercises, exchange of military

instructors, exchange of experience and information and observers etc.
2. MoU and Cooperation in the field of Elections: It was signed to deepen cooperation in
matters relating to legislation on elections and referendums. It also covered rights of
elections process stakeholders, modern systems and technologies as well as other issues of
election administration.
3. MoU on cooperation in the sphere of Standards: Seeks to strengthen and enhance
technical cooperation in the fields of conformity assessment, standardization and sharing of
expertise on mutual trade.
It also aims at exchanging necessary information and expertise in this regard between the
two parties. Signatory parties are Ministry of Economy of Kyrgyzstan and Bureau of Indian
Standards (BIS).
4. Agreement on Cooperation in Culture: To deepen cultural cooperation between both
countries in areas such as preservation of cultural heritage, theatre, youth festivals and
organisation of folk arts.
It also seeks to boost cooperation in of publishing and translation of literature, culture,
sports and physical exchange of archival materials, geography, history etc.

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The Manager
SBI Vikaspuri
F Block, New Delhi-110018
21st July 2015
Sub: Seeking Education Loan for Higher Studies
Dear Sir,
My name is Pooran and I have been a customer in your bank for last decade. Recently I
came across certain education loan schemes that your bank is offering. As I have completed
my Higher Secondary education this year and I have got the admission in IIT Delhi, which is
one of the pioneer institute. I was seeking education loan for the same. Below are my
father's personal details with bank details :
Name : Prem Chopra
Address : House number-123, XYZ block, Vikaspuri, New Delhi-110018
Savings A/C number - 18001234567
Contact Number - 9874563210
Sir, I will be requiring the loan for both my tution fees and my hostel fees and I will be
required to submit the fee before 18th August. The consolidated amount that will be for the
4 years will be approximately 4 Lakhs. The above consolidated amount includes the caution
money and the laboratory fees. The loan will be on my fathers name and he will also be the
guarantor the amount.
Sir, you can let me know the list of the documents that I need to submit with your bank for
all the formalities before the loan approval. I will be waiting for your reply as the last date for
fee submission is 18th August.
Hope you will do the needful as soon as possible.

Thanking You
Yours Faithfully
Pooran Chopra

The scheme will be a one year cover, renewable from year to year, Accident Insurance
Scheme offering accidental death and disability cover for death or disability on account of an
accident. The scheme would be offered/administered through Public Sector General
Insurance Companies (PSGICs) and other General Insurance companies
willing to offer the product on similar terms with necessary approvals and tie up with Banks
for this purpose. Participating banks will be free to engage any such insurance company for
implementing the scheme for their subscribers.
The cover shall be for the one year period stretching from 1st June to 31st May for which
option to join/pay by auto-debit from the designated savings bank account on the prescribed
forms will be required to be given by 31st May of every year, extendable up to 31st August
2015 in the initial year. Initially on launch, the period for joining may be extended by Govt.
of India for another three months, i.e. up to 30th of November, 2015. Joining subsequently
on payment of full annual premium may be possible on specified terms. However, applicants
may give an indefinite / longer option for enrolment / auto-debit, subject to continuation of
the scheme with terms as may be revised on the basis of past experience. Individuals who
exit the scheme at any point may re-join the scheme in future years through the above
modality. New entrants into the eligible category from year to year or currently eligible
individuals who did not join earlier shall be able to join in future years while the scheme is
continuing.
Rs.12/- per annum per member. The premium will be deducted from the account holders
savings bank account through auto debit facility in one installment on or before 1st June of
each annual coverage period under the scheme. However, in cases where auto debit takes
place after 1st June, the cover shall commence from the first day of the month following the
auto debit. The premium would be reviewed based on annual claims experience. However,
barring unforeseen adverse outcomes of extreme nature, efforts would be made to ensure
that there is no upward revision of premium in the first three years.
The savings bank account holders of the participating banks aged between 18
years(completed) and 70 years (age nearer birthday) who give their consent to join / enable
auto-debit, as per the above modality, will be enrolled into the scheme.
The accident cover for the member shall terminate on any of the following events and no
benefit will be payable there under:

On attaining age 70 years (age nearest birth day).

Closure of account with the Bank or insufficiency of balance to keep the insurance in
force.

In case a member is covered through more than one account and premium is
received by the Insurance Company inadvertently, insurance cover will be restricted
to one only and the premium shall be liable to be forfeited.

If the insurance cover is ceased due to any technical reasons such as insufficient
balance on due date or due to any administrative issues, the same can be reinstated
on receipt of full annual premium, subject to conditions that may be laid down.

During this period, the risk cover will be suspended and reinstatement of risk cover
will be at the sole discretion of Insurance Company.

Participating banks will deduct the premium amount in the same month when the
auto debit option is given, preferably in May of every year, and remit the amount due
to the Insurance Company in that month itself.

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SBI PO Mains Descriptive : Beti Bachao, Beti Padhao
Dear
Readers,
Today we are providing you Important Information on one of the most important topic i.e.
Beti Bachao, Beti Padhao scheme. This is important not only for Descriptive, but also for
current
affairs.
So
buck
up
and
get
ready
for
the
battle.
The Census (2011) data showed a significant declining trend in the Child Sex Ratio(CSR)
between 0-6 years with an all time low of 918. The issue of decline in the CSR is a major
indicator of women disempowerment. CSR reflects both, pre-birth discrimination manifested
through gender biased sex selection, and post birth discrimination against girls. Easy
availability and affordability of diagnostic tools has been critical in increasing Sex Selective
Elimination (SSE) leading to low Sex Ratio at Birth(SRB). Further it also contributes to the
decline in CSR. Strong sociocultural and religious biases, preference for sons& discrimination
towards daughters has accentuated the problem. Coordinated & convergent efforts are
needed to ensure survival, protection and education of girl child to help realize her full
potential. The Government has announced Beti Bachao, Beti Padhao programme to address
the issue of decline in CSR through a mass campaign & Multi-Sectoral action in 100 gender
critical districts.
Though the CSR is influenced by number of factors such as under-registration of girls,
differential infant & child mortality, strong socio-cultural and religious biases, preference for
sons & discrimination towards daughters, it is in large measure determined by Sex Ratio at
Birth (SRB). SRB is defined as number of girls born per 1000 boys. The SRB for the period
2008-10 was 908 as against the internationally observed normal SRB of 952 clearly pointing
out to lesser number of girls born
Page 27 of 37 than the boys in India. A low SRB is directly linked to easy availability and
affordability of diagnostic
tools leading to increasing Sex Selective Elimination (SSE). The sharp decline as pointed by
Census 2011 data is a call for urgent action, as it highlights that the girl child is increasingly
being excluded from life itself. Coordinated & convergent efforts are needed to ensure
survival, protection and education of the girl child. The Government has announced
BetiBachao, BetiPadhao(BBBP)programme to address the issue of decline in CSR through a
mass
campaign across the country, and focussed intervention & Multi-Sectoral Action in 100
gender critical districts.
The objectives of this initiative are:
i) To prevent Gender biased sex selective elimination:
Focussed intervention targeting enforcement of all existing Legislations and Acts, especially
to Strengthen the implementation of Pre-Conception & Pre-Natal Diagnostic Techniques

(Prohibition of Sex Selection) Act, 1994 (PC&PNDT Act) with stringent punishments for
violations of the law.
ii) To ensure survival& protection of the girl child:
Article 21 of the Constitution defines protection of life and liberty as a legitimate right of its
citizens. The difference in mortality rates of girls and boys indicates the difference in access
to various health care and nutrition services as well as the preferential care and treatment
given to boys. The access to various entitlements, changes in patriarchal mind-set etc. are
to be addressed in order to ensure equal value, care for and survival of the infant and young
girl child. Further implementation of various legislative provisions for the protection of the
girl child and women has to be ensured to create a nurturing and safe environment for the
girl child.
iii) To ensure education & participation of the girl child:
The access and availability of services and entitlements during the various phases of the life
cycle of the Girl Child has a bearing on her development. Essential requirements related to
Nutrition, Health Care, Education and Protection have to be fulfilled to enable every girl child
to develop to her full potentialespecially the rightto quality early childhood care, elementary
and secondary education. Right To Education (RTE) Act, 2010 provides children the right to
free and compulsory education till completion of elementary education in a neighbourhood
school. Further, Sarva Shiksha Abhiyan (SSA) is a flagship programme for achievement of
Universalization of Elementary Education (UEE) in a time bound manner, as mandated by
86th amendment to the
Constitution of India making free and compulsory Education to the Children of 6-14 years
age group, a Fundamental Right. Denial of these entitlements is
a violation of childrens rights, which will have a lasting lifelong negative impact. This will
also adversely impact upon future human development.
-Source, Ministry of Women and Child Development Official Website

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Good Morning Readers,
As many of you were demanding some essay topics that likely to come in the upcoming
exams. So today we are providing you, essay on GREEK DEBT CRISIS which is burning
topic of this hour across the world. There is much anticipation of this topic to be in the exam.
This topic is crucial from the point of view as an Essay as well as General Awareness.
Since, Greece is the current interesting issue in the world and the downfall of its economy
has been discussed. The financial crisis affected the entire economy, thus the topics are
interrelated to each other. Hence the crisis affects all the sectors in the country. Thus the
reasons for the crisis and its impact have been outlined in this article.
Greece became the tenth member of the European Union in 1981 which ushered the period
of remarkable sustainable growth in the country. The country aimed to raise their standard
of living to unprecedented levels which would be achieved by widespread investments in
industries, growing revenues from tourism and shipping. The country then adopted the Euro
in 2001. In 2004 Greece hosted the Olympics games.
The roots of Greece's crisis are simple. Before Greece joined the Eurozone, investors treated
it as a middle-income country with poor governance which is to say, a credit risk. After
Greece joined the Eurozone, investors thought that Greece was no longer a credit risk
they figured, if push came to shove, other Eurozone members like Germany would bail

Greece out. They were wrong. After joining of Greece as the Eurozone member, investors
began lending to Greece at about the same rates as they lend to Germany. Faced with this
sudden availability of cheap money, Greece began borrowing like crazy. And then, when it
couldn't pay back its debts, it turned out financial markers were wrong: Germany and other
Eurozone nations weren't willing to simply bail Greece out. That led the market to panic
around 2010, and you can see interest rates on Greek debt spike once again. Those high
interest rates make it basically impossible for Greece to borrow, and that makes it
impossible for Greece to pay its debts.
The result: Greece is insolvent and the Eurozone isn't as tight a union as the financial
markets and maybe the Eurozone's member states believed. That's the crisis.
Greece's debt-to-GDP ratio is an insane 172%, It's much higher than any other country in the
Eurozone. But making matters worse is the fact that the financial markets no longer see
Greece as debt-worthy. No one wants to lend to Greece at reasonable rates, and so Greece
can't keep paying to service its current debts while carrying out basic government functions.
The latest round of the Greek crisis began when Greece rejected its two main political
parties in favor of the far-left Syriza. The main reason? Syriza promised to free Greece from
the grinding austerity that was leading to such widespread human misery. The only
problem? Syriza had no actual plan for freeing Greece from austerity; they tried to
renegotiate the terms of the Eurozone's support for Greece and came away basically empty
handed. And so Syriza is asking the Greek people to vote on whether to accept the
Eurozone's terms and, by proxy, to remain in the Eurozone. The vote is basically a final,
desperate ploy for leverage, and one that's likely to fail. Either the Greek people endorse
more of the same, which Syriza doesn't want, or they reject the Eurozone's offer, and
basically have to leave the Eurozone, which would also be a disaster.
Over the past six years, Greece has experienced an economic depression on the scale of
that experienced by the United States in the 1930s. Its economy has contracted by around
25 percent, its unemployment rate has exceeded 25 percent, and its youth unemployment
has risen to over 50 percent.
At the same time, despite five years of budget austerity and a major write-down of its
privately owned sovereign debt, Greece's public debt to GDP ratio has risen to 180 percent.
At the heart of Greece's economic collapse has been the application of draconian budget
austerity within a Euro straitjacket. That straitjacket has precluded exchange rate
depreciation or the use of an independent monetary policy as a policy offset to the adverse
impact of budget belt-tightening on aggregate demand.
In other words, the debt crisis destroyed Greece's economy, which in turn destroyed
Greece's ability to pay back its creditors or employ its people, which in turn forced Greece to
beg the Eurozone and IMF for help and the austerity measures they demanded destroyed
Greece's economy even more.
The Greek government now faces the challenge in the economy of restructuring the reforms
and to ensure that the economic policies continue to enhance economic growth and increase
Greece standard of living and development in the economy.
Pursuing a strong fiscal policy which is combined with public-sector borrowing and the
lowering of interest rates has been the challenge for Greece. The Central bank of Greece is
also making efforts to increase borrowings at low interest rest in order to stabilize the
economy.
The Government should reduce its expenditure and hence domestic products need to be

encouraged. As the excess of exports would enable finance the deficit in the economy. Also
it will lead to rise in GDP thereby leading to decline in rate on unemployment.

Read more: http://www.bankersadda.com/2015/07/greek-debt-crisisessay.html#ixzz3ghTZUC1C

Prime Minister Narendra Modi inaugurated the Digital India week on Wednesday in the
presence of senior ministerial colleagues and top industry honchos, a move that aims to give
a digital push to governance and jobs. Right from his first day in office, the Prime Minister
has always exhibited interest in a digitizing campaign for India, something which he feels
would bridge the gap between government initiatives and its beneficiaries. With increasing
internet penetration in India, a digital India campaign is the need of the hour.

Digital locker system to minimize usage of physical documents and enable their esharing via registered repositories.

MyGov.in as an an online platform to engage citizens in governance through a

"Discuss, Do and Disseminate" approach.

Swachh Bharat Mission Mobile app to achieve the goals set by this mission.

e-Sign framework to allow citizens to digitally sign documents online using Aadhaar.

e-Hospital system for important healthcare services such as online registration, fee
payment, fixing doctors' appointments, online diagnostics and checking blood
availability online.

National Scholarship Portal for beneficiaries from submission of application to

verification, sanction and disbursal.

Digitize India Platform for large-scale digitization of records in the country to facilitate
efficient delivery of services to the citizens.

Bharat Net programe as a high-speed digital highway to connect all 250,000 gram
panchayats of country -- the world's largest rural broadband project using optical
fibre.

BSNL's Next Generation Network to replace 30-year old telephone exchanges to

manage all types of services like voice, data, multimedia and other types of
communication services.

BSNL's large scale deployment of Wi-Fi hotspots throughout the country.

"Broadband Highways' as one of the pillars of Digital India to address the connectivity
issue while enabling and providing technologies to facilitate delivery of services to
citizens.

Outsourcing Policy to create such centres in different northeastern states and in

smaller towns across the country.

Electronics Development Fund to promote innovation, research and product

development to create a resource pool within the country as also a self-sustaining
eco-system of venture funds.

National Centre for Flexible Electronics to promote research and innovation in the
emerging area of flexible electronics.

Centre of Excellence on Internet on Things (IoT) as a joint initiative of the government

agencies and private institutions such as Nasscom.

Digital India promises to transform India into a connected knowledge economy offering
world-class services at the click of a mouse and will be implemented in a phased
manner.The government feels that open access to "broadband highways" across cities,
towns and villages would give a fillip to trade across the country. "The other important
benefit we see is surge in e-commerce. The intention is to bring down net electronics
imports to zero by 2020, from about $100 billion now, a move which will help the country
control its current-account deficit. As things stand, net annual electronics imports could rise
to $400 billion by 2020, outgrowing oil imports.
Try to make essay out of it and post it in the comment section.

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SBI Descriptive 2015 : All About Vyapam (Scam)

Dear Readers,

You all must be hearing about a word "VYAPAM" on all the news channels and might be
seeing it on the cover pages of the newspapers as well. You don't need to wonder at all. You
might get this topic in the upcoming descriptive exam like SBI PO Mains. Being recently in
news, it is one hot topic for discussion. It's seriousness got elevated once the unseen pages
of VYAPAM got turned by special Task Force constituted by Court Authority. Now the first
question that might arise in your mind is "What is Vyapam?"
The answer is, the Madhya Pradesh Professional Examination Board (MPPBP), the
government body responsible for conducting several entrance tests in the State, is popularly
known as Vyapam (Hindi acronym for Vyavsayik Pareeksha Mandal). These entrance tests
are used for recruitment to government jobs and admissions to educational institutes in the
State.
The scam, which has been in the news recently, is an admission and recruitment scam
involving politicians, senior government officials, business-persons and others in Madhya
Pradesh. In it, undeserving candidates bribed politicians and MPPEB officials, through
middlemen, to get high ranks in the entrance tests or secure jobs. Many of those who
discovered these sordid facts whistleblowers and journalists responsible for unearthing
the details have died in a spate of suspicious incidents. The three main whistleblowers
social activists Dr Anand Rai and Ashish Chaturvedi, and IT consultant Prashant Pandey
have been receiving death threats.
According to varied reports from whistleblowers, the following tricks were used by those
involved in the scam:
i. All the information of the candidate remained the same, except the photograph. The
candidates photograph was replaced by that of the impersonator and after the exam, it was
changed back to the original. Obviously, the impersonators were brilliant students and they
received huge sums to keep their mouths shut.
ii. A person was strategically made to sit in front of the candidate in question. The person let
them copy from his sheet or exchanged the sheet with them at the end of the exam.
iii. The candidates in question were asked to leave their answer sheets blank and were given
high marks in the exam. Or they were supplied with solved OMR sheets before they took the
exam.
While complaints against irregularities came trickling in from the mid-2000s, the Vyapam
issue turned murkier from 2007-08 onwards. However, it was only in 2013 that the lid was
blown.
The Opposition claims that over 77 lakh candidates have paid bribes to secure seats and
jobs. Heres how it all began:
2007: This was the year when the scent of a scam was sniffed. The MP Local Fund Audit
office found financial and administrative irregularities in Vyapam.
2009: Activist and doctor from Indore Anand Rai filed a public interest litigation (PIL) with
the MP High Court, alleging foul play in the recruitments and admissions.
2011: Chief Minister Shivraj Singh Chauhan set up an enquiry committee to look into the
matter.
2013: Anand Rai made startling revelations that led to a series of arrests. On the
intervening night of July 6 and 7, the police arrested 20 persons who were to impersonate
candidates scheduled to appear on July 7 for the MPPEB. On July 12-13, the kingpin of the
racket, Jagdish Sagar, was arrested. A list confiscated from him revealed the names of 317
candidates. MPPEBs exam controller, Pankaj Trivedi, who vouched for students who had
fraudulently answered the exam, sending letters to institution heads to accept them, was
later arrested and removed from his post. A Special Task Force of the MP Police began
handling the investigation. The Congress requested the High Court to conduct a CBI probe.
2014: The MP High Court rejected the demand for a CBI Inquiry by the Congress and other
parties. In April, 27, students from MGM Institute of Health Sciences were expelled for
fraudulently clearing the medical test back in 2012.

2015: Accused, witnesses and investigators have been dropping like flies this year. So far,
around 1,900 are in jail. According to latest developments, though the State Government of
Madhya Pradesh wanted to hand over investigation to the CBI, the MP High Court quashed
the request, stating it will not take a decision till the Supreme Court weighs in on the matter.
Now after all of this, the matter is still under investigation and the final decision is still to be
taken. It has to go a long way and many pages of this book is still unturned. We have to wait
and watch untill some concrete steps is to be taken by the authority. In this country where
unemployment is one of the burning issues, such kind of incident will not only demotivate
the young generation but will adversely affect the output.

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REVERSE MORTGAGE LOAN : A Helping Hand For Senior Citizens
Good Morning Readers,
Today we are providing you some small but important concepts of reverse mortgage loan.
This is one of the important topics. So below are the details.
The scheme of reverse mortgage has been introduced for the benefit of senior citizens
owning a house but having inadequate income to meet their needs. Some important

Features of reverse mortgage are:

a) A homeowner who is above 60 years of age is eligible for reverse mortgage loan. It allows
him to turn the equity in his home into one lump sum or periodic payments mutually agreed
by the borrower and the banker.
b) NO REPAYMENT is required as long as the borrower lives, Borrower should pay all taxes
lating to the house and maintain the property as his primary residence.
c) The amount of loan is based on several factors : borrowers age, value of the property,
current interest rates and the specific plan chosen. The valuation of the residential property
is done at periodic intervals and it shall be clearly specified to the borrowers upfront. The
banks shall have the option to revise the periodic / lump sum amount at such frequency or
intervals based on revaluation of property.
Settlement - The loan shall become due and payable only when the last surviving borrower
dies or would like to sell the home, or permanently moves out. On death of the home owner,
the legal heirs have the choice of keeping or selling the house. If they decide to sell the
house, the proceeds of the sale would be used to repay the mortgage, with the remainder
going to the heirs.
As per the scheme formulated by National Housing Bank (NHB), the maximum period of the
loan period is 15 years. The residual life of the property should be at least 20 years. Where
the borrower lives longer than 15 years, periodic payments will not be made by lender.
However, the borrower can continue to occupy.

Read more: http://www.bankersadda.com/2015/07/reverse-mortgage-loan-helping-handfor.html#ixzz3ghV6cLFC