YES Bank Appoints Vinay Muralidhar Tonse as MD & CEO-Designate, To Take Charge on April 6, 2026
Mumbai, March 6, 2026: YES Bank Limited has announced the appointment of Vinay Muralidhar Tonse as Managing Director & Chief Executive Officer (Designate), effective March 12, 2026, as part of a leadership transition approved by the Board of Directors.
The appointment follows approval from the Reserve Bank of India and has been disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
According to the bank’s regulatory filing with National Stock Exchange of India and BSE Limited, Tonse will serve as MD & CEO-Designate from March 12 to April 5, 2026, enabling a smooth leadership transition. He will formally assume the role of Managing Director & CEO on April 6, 2026, after the completion of the tenure of current CEO Prashant Kumar, who will step down on April 5, 2026.
Leadership Transition at YES Bank
The bank’s board approved Tonse’s interim designation based on the recommendation of its Nomination and Remuneration Committee, allowing him time to familiarize himself with the bank’s operations and business strategy before taking full charge.
The appointment is for a three-year term starting from the date he officially assumes office.
Extensive Banking Experience
Tonse brings nearly four decades of banking experience, primarily with State Bank of India, where he began his career in 1988 as a Probationary Officer.
Most recently, he served as Managing Director (Retail Business and Operations) at SBI from November 2023 to November 2025, overseeing the bank’s vast domestic network of approximately 23,000 branches, an employee base of about 2.33 lakh, and business levels nearing ₹76 lakh crore.
Earlier, Tonse also served as Managing Director & CEO of SBI Mutual Fund from June 2020 to December 2022, leading India’s largest asset management company.
Key Roles Across Global Banking Operations
During his long tenure at SBI, Tonse held several senior leadership positions across India and overseas, including:
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CEO of SBI’s Osaka branch in Japan
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Deputy Managing Director at SBI’s Corporate Accounts Group in Mumbai
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Chief General Manager of SBI’s Chennai Circle, overseeing over 1,260 branches across Tamil Nadu and Puducherry
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Deputy General Manager in Equity & Commodities (Global Markets) at SBI’s corporate centre
He has also worked in specialized areas such as corporate credit, international banking, treasury operations, equity portfolio management, retail banking, agriculture, and rural banking.
Education Background
Tonse holds a Bachelor of Commerce degree from St. Joseph’s College of Commerce, Bengaluru, and a Master’s in Commerce from Bangalore University.
Strategic Significance
Industry analysts believe Tonse’s deep experience in retail banking, global markets, and corporate banking could play a significant role in strengthening YES Bank’s growth strategy and operational expansion in the coming years.
The bank said it will inform the stock exchanges once Tonse formally assumes charge as MD & CEO on April 6, 2026.