Current Affairs

Step 1: Recall the role of institutions.
- WTO → World Trade Organization → enforces trade rules, ensures free and fair trade.
- GATT → Predecessor of WTO.
- UNCTAD → Promotes trade/development for developing countries.
- SAARC → Regional cooperation in South Asia.
- When a major country raises tariffs unilaterally, it undermines WTO principles of trade liberalization.

Step 1: Recall UPI ownership.
UPI is a digital payment system developed, promoted, and managed by the National Payments Corporation of India (NPCI)