Mumbai: Yes Bank announced that the Reserve Bank of India has approved the appointment of Vinay Muralidhar Tonse as its new Managing Director (MD) and Chief Executive Officer (CEO) for a term of three years.
Tonse’s tenure will begin on the date he assumes charge and will be subject to approval by the bank’s shareholders.
The decision comes while the current MD and CEO, Prashant Kumar, continues in his role during an extended term. Yes Bank said it approached the regulator for a leadership transition after considering Kumar’s preferences and the bank’s long-term growth plans.
Tonse was most recently the MD for Retail Business and Operations at State Bank of India. He served in that role until November 30, 2025. During his career at SBI, he handled large retail portfolios and oversaw key operational functions, giving him wide experience in retail banking and financial services management.
The bank also confirmed that Tonse is not barred from holding the office of a director by the Securities and Exchange Board of India or any other statutory authority. This confirmation is in line with applicable stock exchange requirements.
Yes Bank said the appointment is expected to support its next phase of growth and strengthen its leadership team.
