FINANCEOUTLOOKINDIA9AUGUST, 2026PV RETAIL SALES CROSS 4 LAKH UNITS FOR FIRST TIME IN JULYGOVT RAISES RS 31,552 CR FROM LIC STAKE SALE; LARGEST PUBLIC OFFERRBI PROPOSES UNIFORM LOAN PRICING RULES FOR BANKS AND NBFCSLOK SABHA PASSES BILL TO LEVY CHARGES ON UPI TRANSACTIONPassenger vehicle (PV) reached the 4 lakh mark for the first time in any July, with PV retail sales rising 19.13% YoY to 4,16,555 units, India's overall automobile retail market grew by 25.89% to 25,91,138 vehicles in the month, according to the Federation of Automobile Dealers Associations (FADA). Total retail registrations were relatively unchanged from June, despite the strong annual growth, dropping by 0.16%.Loan pricing rules could soon become more transparent and uniform after the Reserve Bank of India proposed a common framework for banks and non-banking financial companies (NBFCs). The proposal aims to standardise how lenders determine interest rates, making it easier for borrowers to compare loan offers, The government has raised Rs 31,552 crore through 6.5% LIC stake sale through an offer for sale (OFS) that closed on Wednesday, making it the largest public offer in the history of the Indian stock market.Against 82.2 crore shares on offer, including the greenshoe option, total demand stood at a robust 111.3 crore shares, reflecting strong investor appetite for the country's largest insurer. Given the overwhelming response, shares were allotted at Rs 383.69 apiece, slightly above the base price of Rs 382 per share. The Lok Sabha passed a Bill to amend the Payment and Settlement Systems Act, 2007, authorising the government to permit banks and other service providers to levy charges on UPI Transaction and other notified electronic payment modes.The amendment Bill, passed by the House without discussion amid protests by the Opposition, seeks to remove the existing legal provision that currently prevents banks and payment service providers from charging a Merchant Discount Rate (MDR) on notified electronic payment modes. Real-time payments made through RTGS and NEFT already attract a service charge, but UPI transactions have so far remained exempt from such fees. The performance marked a historic milestone for the domestic automobile industry, with every major vehicle segment recording its highest-ever July retail sales. Two-wheelers, passenger vehicles, commercial vehicles, three-wheelers, tractors and wheeled construction equipment all posted record July volumes, underscoring broad-based demand across both urban and rural markets. understand pricing structures, and track the impact of future policy rate changes. While the move is not expected to reduce EMIs immediately, it is designed to improve transparency, strengthen consumer protection, and ensure greater consistency in loan pricing across regulated entities. The proposal, announced alongside the central bank's monetary policy decision on Wednesday, is not expected to reduce borrowers' equated monthly instalments (EMIs) immediately.
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