YES Bank Limited announced the appointment of Mr. Vinay Muralidhar Tonse as Managing Director & Chief Executive Officer (MD & CEO) Designate, effective March 12, 2026. This designation period, lasting until April 05, 2026, will facilitate a smooth transition before he formally takes over from the incumbent on April 06, 2026. Mr. Tonse previously served as MD (Retail Business) at State Bank of India (SBI).
YES Bank Announces New Leadership Transition
YES Bank Limited has formally communicated a significant leadership transition following earlier approvals. The Board of Directors, acting on the recommendation of the Nomination and Remuneration Committee, approved the appointment of Mr. Vinay Muralidhar Tonse as the new Managing Director & Chief Executive Officer (MD & CEO) Designate of the Bank.
Transition Timeline Confirmed
The appointment as MD & CEO Designate is effective from March 12, 2026. This period, running until April 05, 2026 (inclusive), is designed to ensure a smooth transition and familiarize Mr. Tonse with the Bank’s operations. Mr. Tonse will officially assume the role of MD & CEO starting April 06, 2026. This date follows the cessation of office by the current MD & CEO, Mr. Prashant Kumar, who demits office on April 05, 2026.
Profile of Incoming MD & CEO
Mr. Vinay M. Tonse brings extensive experience, having served as the Managing Director (Retail Business and Operations) at the State Bank of India (SBI) from November 2023 till November 2025. In that capacity, he oversaw SBI’s vast domestic network comprising nearly 23,000 branches and managed business levels totaling Rs.76 lac crore as of November 30, 2025.
Key Prior Experience at SBI
Mr. Tonse began his career at SBI in 1988 and has deep expertise across multiple banking verticals, including Corporate Credit, International Banking, Treasury Operations, and Retail Banking. Key roles held by him include:
- Serving as Managing Director & CEO of SBI Mutual Funds (June 2020 to December 2022), India’s largest Asset Management Company.
- Heading the Chennai Circle of SBI as Chief General Manager from June 2018 to June 2020.
- Chief Executive Officer of the SBI Osaka Branch, Japan (August 2009 to June 2013).
- Various senior roles in Treasury Marketing, Corporate Accounts Group, and as a faculty member at the apex State Bank Staff College in Hyderabad.
Mr. Tonse holds a B.Com and a Master’s in Commerce from Bangalore University.
Source: BSE
