Mungbean is a legume crop that plays a significant role in food and nutritional security. Apart from its nutritional qualities and ecologically beneficial roles, mungbean’s traits, such as its short life cycle, small genome size, self-pollination behavior, larger flower size, and phylogenetically close relationship with various legume crops, make it a model crop for genetic studies. Yet, the mungbean production has been almost stagnant for the last several decades until recent times. The advances in omics technologies have revolutionized trait discovery and crop improvement. High-throughput RNA-seq studies have generated comprehensive transcriptome datasets comprising tens of thousands of unigenes, facilitating the identification of candidate genes linked to various traits. Whole-genome sequencing and genomics studies are also playing a pivotal role in enhancing yield and nutritional quality through precision breeding. Overall, multiomics strategies are now paving the way for precision breeding in mungbean, promising significant improvements in crop productivity and stress resilience for sustainable agriculture.