CURRENT AFFAIRS

Detailed explanation-1: -Abhishek Mishra. Explanation: Union Bank of India has launched UnionNXT and Digital Transformation Project SAMBHAV with an investment outlay of around Rs 1,000 crore for the current financial year 2022-23.

Detailed explanation-2: -Abhishek Mishra. Explanation: The Union Bank of India (UBI) has launched a digital transformation project called ‘SMBHAV’. Union Bank of India is one of the leading public sector banks of the country. The Bank is a listed entity and the Government of India holds 83.50 percent in Bank’s total share capital.

Detailed explanation-3: -Six digital initiatives were launched by the SL Jain, MD and CEO, Indian Bank, along with Sharad Mathur, MD & CEO, Universal Sompo General Insurance Co.

Detailed explanation-4: -Union Vyom App, the super app of the Bank, is a one stop solution for all financial products. The Vyom app is empowered to deliver a unique experience of banking to the customers where customer can do transactions beyond traditional banking.

Detailed explanation-5: -In the programme, five new products of the bank were launched by the bank’s MD & CEO A Manimekhlai. These products are- Union Muskan, Union Sparsh, Union Channel Finance, Union DG Sahaj and Union Saras.