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Banking - General Knowledge Questions
Which Bank launches super-app UnionNXT and digital project SAMBHAV?
A)
Union Bank of India
B)
HDFC Bank
C)
State Bank of India
D)
Punjab National Bank

Correct Answer :   Union Bank of India

Union Bank of India has launched its super-app named "UnionNXT" and digital transformation project SAMBHAV, with an investment outlay of around Rs 1,000 crore for the current financial year 2022-23 (FY23). The public sector lender expects recovery from the spending in two years and aims to have 50 per cent of business originating on the digital platform by 2025.
 
A banking super-app essentially combines a number of services, such as payments, online shopping, bill payments, recharges, investment, loans, and fund transfer, on a single platform. UBI’s super-apps is similar to the super-apps by other large lenders such as State Bank of India’s Yono, Bank of Baroda’s Bob world and HDFC Bank’s PayZapp and ICICI Bank’s iMobile.

Published On : April 7, 2022
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