Universal Postal Union (UPU)

Why in news?

• The Universal Postal Union (UPU) has announced plans to evaluate the integration of the Unified Payment Interface (UPI) with cross-border remittances using the global postal network.
• This evaluation aims to explore the potential of UPI in facilitating secure and efficient international money transfers.

About Universal Postal Union (UPU):

• The UPU is a United Nations specialized agency and the postal sector's primary forum for international cooperation.
• UPU is the second oldest international organization.
• The UPU was established in 1874 through the Treaty of Bern.
• UPU's headquarters are located in Bern, Switzerland.
• The organization consists of four bodies: 
  • Congress,
  • Council of Administration (CA)
  • Postal Operations Council (POC)
  • International Bureau (IB).
• It also oversees the Telematics and Express Mail Service (EMS) cooperatives.

Membership:

• Any member country of the United Nations can become a member of the UPU.
• Non-member countries of the United Nations can join the UPU if approved by at least two-thirds of the member countries.
• The UPU has now 192 member countries.
• India joined the UPU in 1876.

Role and Functions:

• UPU coordinates postal policies among member nations and the global postal system.
• The union sets rules for international mail exchanges and makes recommendations to stimulate growth in mail, parcel, and financial services volumes.
• It aims to improve the quality of service for customers and promote efficiency in international postal operations.

What is UPI?

• To know about UPI please visit: https://ilearncana.com/details/Unified-Payment-Interface/4127

PRACTICE QUESTION

Consider the following statements regarding Universal Postal Union (UPU):

1. It is a United Nations specialized agency

2. India is a member of UPU

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Answer