Mungbean (Vigna radiata (L.) R. Wilczek) is a significant legume crop globally, specifically in Asia, where it is used as the main source of protein. It has a short growth cycle, it fixes nitrogen, and it is nutritious, all of which support its place in sustainable agriculture and food security. Conventional methods of breeding and propagation have limitations because mungbean is seasonally dependent, lacks genetic diversity, and has low transformation efficiency. This review comprehensively examines the progress in in vitro regeneration and genetic transformation in mungbean and aims to address and overcome the existing limitations. Direct and indirect organogenesis has been achieved using various explants (cotyledonary nodes, shoot tips, hypocotyls, and embryonic axes) and the formulations media supplemented with cytokinins such as BAP and TDZ provide high-frequency shoot regeneration. Another reliable alternative explored is somatic embryogenesis, a type of embryo development that has shown promising results in certain genotypes. Regeneration efficiency also depends on the age of explants, hormonal balance, and growth conditions in culture which are highlighted in the studies too. Despite the important advances having been made, it is necessary to perform additional research in order to reduce the genotype-independent protocols, optimize liquid culture systems, and also minimize the bottlenecks associated with transformation. Such developments will eventually enable massive propagation, functional genomics, and crop enhancement of V. radiata that will enable its further use to achieve sustainable agriculture.