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Question

What is the name of the digital transformation initiative launched by a public sector bank in India, called 'SMBHAV'?
  • Punjab National Bank
  • HDFC Bank
  • State Bank of India
  • Union Bank of India
Answer- D
Union Bank of India has introduced its super-app, UnionNXT, and digital transformation project named SAMBHAV, which will involve an investment of approximately Rs 1,000 crore for the current financial year 2022-23 (FY23).

The public sector bank anticipates recovering the expenditure within two years and aims to have half of its business generated through the digital platform by 2025.