YES BANK, the Indian private-sector bank, has appointed Vinay Muralidhar Tonse as its managing director and chief executive officer-designate, following approval from the Reserve Bank of India (RBI). His term will be for three years and he will be taking over from Prashant Kumar on 6 April, 2026.
A Commerce graduate from St Joseph’s College of Commerce, Bengaluru, Tonse holds a master’s degree in Commerce from Bangalore University.
A highly experienced banker with over 35 years in the financial sector, Tonse’s career has covered treasury, retail banking, corporate banking, international operations, and asset management, making him one of the most versatile leaders in Indian banking.
Most recently, Tonse was MD at State Bank of India (SBI), where he led retail operations and managed deposits and advances worth about USD 800 billion—the largest in India. He strengthened SBI’s customer base and balance sheet during this time. He also gained international experience by working in Singapore and leading SBI’s operations in Osaka, Japan. Later, as MD & CEO of SBI Mutual Fund (2020–2022), he oversaw rapid growth, with assets under management rising from Rs 4.32 trillion to Rs 7.32 trillion.
Tonse now takes over as MD & CEO of YES BANK, succeeding Prashant Kumar, who guided the bank through a critical recovery phase. YES BANK has expressed deep gratitude to Kumar for stabilising the institution and laying a strong foundation for future growth.
Rama Subramaniam Gandhi, non-executive chairman of YES BANK, looks forward to “working closely with Vinay ji” and also expressed how the bank “remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES BANK is today.”
Nandita Gurjar, independent director and chairperson of the Nomination & Remuneration Committee and Customer Service Committee of YES BANK, shared how “The Committee unanimously recommended” Tonse’s appointment, “recognising his exemplar leadership track record with strong governance and ability to drive the organisation’s next phase of growth and transformation.”
Rajeev Kannan, non-executive director, YES BANK and senior executive of Sumitomo Mitsui Banking Corporation (SMBC), highlighted Tonse’s “rare breadth of leadership experience spanning retail and corporate banking, international markets, and asset management”.
Vinay Tonse himself is eager to bring “my experience and learnings to further strengthen this institution”.