{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Daybreak","title":"Miss a smartphone EMI, and your lender can now wirelessly strip the ‘smart’ out of it","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/47d102e3\"></iframe>","width":"100%","height":180,"duration":1443,"description":"Naresh drives for Rapido. When his phone died, so did his income — for seven days, until he could borrow enough to replace it.Until 2024, India's biggest consumer lenders had turned that exact vulnerability into a recovery tool. Miss an EMI, lose your phone. It worked so well that smartphone lending grew from 1% to nearly 40% of consumer borrowing in three years. Then the RBI banned it. Lending collapsed by 80%. Delinquencies rose. Rejection rates hit 50%.Now the tool is coming back. This time with guardrails. The question is whether they're enough.*We want to get to know you a little better. Tell us what you think about Daybreak here.Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.","thumbnail_url":"https://img.transistorcdn.com/uPitovxKRYBGX6AWg9UrET6s3nAdkS-Ci9uZvsZj7vk/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS85ODhl/ZWM4NmEwZTcxZjZk/MDRlYjAzNTNkMjJi/ZGQ2YS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}