New Delhi, May 22 -- The Reserve Bank of India's proposed draft framework allowing lenders to disable certain smartphone services in case of loan defaults is expected to ease concerns among banks and non-banking financial companies (NBFCs), revive financing in the entry-level segment and support growth in the smartphone industry, India Cellular and Electronics Association Chairman Pankaj Mohindroo told ANI on Friday.

"It is a very beautiful amendment and the draft proposal is a very beautiful proposal. It is consent-based. If there is a default, you would be deprived of some services and if you are making good the default, then there is an immediate recourse which the lender has to implement within one hour," Mohindroo told ANI in an exc...