Mumbai: Private sector lender Yes Bank on Tuesday said the Reserve Bank of India (RBI) has approved the appointment of Vinay Muralidhar Tonse as its new Managing Director and Chief Executive Officer for a period of three years.
In a regulatory filing to the stock exchanges, the bank said the approval was granted by the RBI through a letter dated February 3, 2026, and Mr. Tonse’s tenure will be effective from the date he assumes charge. His appointment will be subject to the approval of the bank’s shareholders.
The move comes as the current MD & CEO, Prashant Kumar, continues to serve during his extended term. The bank said it had approached the regulator for new leadership keeping in view Mr. Kumar’s preferences and the institution’s future growth requirements.
Mr. Tonse was previously the Managing Director (Retail Business & Operations) at State Bank of India, a role he held until November 30, 2025. He brings with him extensive experience in retail banking, operations, and large-scale financial services management.
Yes Bank also confirmed that Mr. Tonse (DIN: 06695367) is not debarred from holding the office of a director by SEBI or any other statutory authority, in compliance with applicable stock exchange circulars.
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The disclosure has been made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the details have been made available on the bank’s website.
Shares of Yes Bank were trading on both NSE (YESBANK) and BSE (532648).