YES Bank has appointed Vinay Muralidhar Tonse as its Managing Director and Chief Executive Officer for a period of 3 years, following approval from the Reserve Bank of India. The bank informed stock exchanges about the development through a regulatory filing on 6 March 2026.
Before formally assuming the role, Tonse will serve as MD and CEO (Designate) from 12 March 2026 to 5 April 2026. The period is intended to allow him to familiarise himself with the bank’s operations and internal processes.
He will take charge as MD and CEO from 6 April 2026, after the current chief executive, Prashant Kumar, completes his tenure on 5 April 2026.
Tonse most recently served as Managing Director in charge of Retail Business and Operations at State Bank of India from November 2023 to November 2025. In that position, he oversaw SBI’s domestic network of nearly 23,000 branches.
The network operated with an employee base of around 2,33,426 and handled business levels of approximately ₹76 lakh crore as of 30 November 2025.
His responsibilities covered retail banking operations and the functioning of the bank’s extensive branch network across the country.
Tonse began his career with SBI in 1988 as a Probationary Officer. Over the years, he has worked across several areas of banking, including corporate credit, international banking, treasury operations, retail banking, equity portfolio management, and agriculture and rural banking.
He has also held leadership positions in India and overseas. His assignments included heading the Chennai Circle of SBI as Chief General Manager between 2018 and 2020, where he oversaw about 1,260 branches across Tamil Nadu and Puducherry.
Between June 2020 and December 2022, Tonse served as Managing Director and Chief Executive Officer of SBI Mutual Fund, which is the largest asset management company in India.
Earlier in his career, he led SBI’s Osaka branch in Japan and worked with the bank’s offshore banking unit in Singapore. He has also held roles in treasury marketing, corporate accounts, and global markets at SBI’s corporate centre in Mumbai.
Read More: YES Bank Targets 1% ROA by FY-End, Eyes Higher Profitability Next Fiscal!
As of March 6, 2026, 3:30 pm, Yes Bank share price closed at ₹20.10, a 0.64% decrease from the previous closing price.
Tonse holds a Bachelor of Commerce degree from St. Joseph College of Commerce, Bengaluru, and a master's degree in Commerce from Bangalore University. With more than 3 decades of experience in the banking sector, he will take over leadership at YES Bank in April 2026.
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Published on: Mar 9, 2026, 8:43 AM IST
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