New Delhi, Aug. 10 -- India should not alter its Unified Payments Interface (UPI) policies under pressure from the United States and must safeguard competition, policy independence, and the long-term sustainability of its digital payments ecosystem, according to the think tank Global Trade Research Initiative (GTRI).

The statement comes after the Lok Sabha passed a bill to amend the Payment and Settlement Systems Act, 2007, allowing the government to authorise banks and payment service providers to levy charges on UPI and other notified digital payment modes.

Debate Over Charges and Sustainability

GTRI said that banks and payment system providers are currently not allowed to charge users for transactions conducted through UPI or RuPay ...