International Organisations

📚 This topic overlaps across exams — read our in-depth, shared write-up: International Monetary Fund (IMF) →

📚 This topic overlaps across exams — read our in-depth, shared write-up: World Bank Group →

📚 This topic overlaps across exams — read our in-depth, shared write-up: World Trade Organization (WTO) →

📚 This topic overlaps across exams — read our in-depth, shared write-up: UNSC Reform →

📚 This topic overlaps across exams — read our in-depth, shared write-up: UN Reforms →

📚 This topic overlaps across exams — read our in-depth, shared write-up: RCEP and India →

📚 This topic overlaps across exams — read our in-depth, shared write-up: Indian Ocean Region and World Affairs →

📖 The United Nations (UN)

Established in 1945 after World War II, the UN aims to maintain international peace and security. Its Security Council has 5 permanent members with veto power (US, UK, France, Russia, China) and 10 non-permanent members. India has long advocated for permanent membership reform of the Security Council, given its population and global standing.

💰 The World Trade Organization (WTO)

Established in 1995 (succeeding GATT), the WTO regulates international trade rules, resolves trade disputes between member countries, and promotes trade liberalisation, though its dispute settlement mechanism has faced significant challenges in recent years.

🏦 The International Monetary Fund (IMF)

Established in 1944 at the Bretton Woods Conference, the IMF promotes global monetary cooperation and provides financial assistance to countries facing balance of payments crises — India itself sought IMF assistance during its 1991 economic crisis.

🌍 The World Bank

Also established at Bretton Woods in 1944, the World Bank provides loans and grants for development projects in low- and middle-income countries, focused on long-term development rather than short-term crisis financing (which is the IMF's role).

💡 Key Facts

The UN Security Council has 5 permanent members with veto power: US, UK, France, Russia, China.
India has long advocated for permanent UN Security Council membership reform.
The IMF and World Bank were both established at the 1944 Bretton Woods Conference.
India sought IMF assistance during its 1991 Balance of Payments crisis.

🔖 60-Second Revision

UN (1945): peace & security; Security Council = 5 permanent (veto) + 10 non-permanent members.
WTO (1995, succeeded GATT): trade rules & dispute resolution.
IMF (1944, Bretton Woods): monetary cooperation, crisis financing (India used it in 1991).
World Bank (1944, Bretton Woods): long-term development financing.