UPI charges should be based on costs, not US trade pressure: GTRI

India must not rewrite its UPI policies under US pressure, and it must defend competition, policy autonomy and the long-term sustainability of its payments ecosystem, think tank GTRI said on Thursday.

Lok Sabha on Thursday passed a bill to amend the Payment and Settlement Systems Act, 2007, which authorises the government to permit banks and other service providers to levy charges on payments through unified payments interface (UPI) and other notified electronic payment modes.