New Delhi, Feb. 5 -- After saying that the Reserve Bank of India (RBI) is evaluating whether to bring back the policy of allowing loan-financed phones on which repayments are interrupted to be locked as a method of enforcing credit discipline, the central bank has not moved on the subject. It should go ahead and give a green signal for the use of technology to enforce credit discipline.

Graded deactivation might well be a good way to ensure guaranteed servicing of loans taken to purchase electric cars and other software-dependent consumer durables in the days to come.

The mechanism of remotely turning a functional piece of equipment into an unusable liability in the event of a default in the servicing of the loan taken to purchase it is...