Yes Bank has announced the appointment of Vinay Muralidhar Tonse as the Managing Director and Chief Executive Officer (MD and CEO)-Designate of the bank. The Reserve Bank of India has approved the appointment of Vinay Muralidhar Tonse as the Managing Director and CEO of Yes Bank for a period of three years from the date he takes charge.
Vinay Muralidhar Tonse will serve as MD and CEO-Designate from March 12, 2026 until April 5, 2026. During this period, he will familiarize himself with the bank’s operations and management structure before formally taking over the top position.
Vinay Muralidhar Tonse Will Take Charge on April 6, 2026
Vinay Muralidhar Tonse will officially assume charge as the Managing Director and CEO of Yes Bank from April 6, 2026. He will take over the position after the current MD and CEO, Prashant Kumar, demits office on April 5, 2026. The bank has also stated that it will inform the stock exchanges when Tonse formally takes charge.
Long Banking Career and Experience
Vinay Muralidhar Tonse has extensive experience in the banking sector and has worked in several senior positions during his career. He most recently served as Managing Director (Retail Business and Operations) at State Bank of India from November 2023 to November 2025. In this role, he was responsible for managing the entire domestic network of the bank, which includes nearly 23,000 branches, around 2,33,426 employees, and business worth about ₹76 lakh crore as of November 30, 2025.
Education and Early Career
Vinay Muralidhar Tonse completed his Bachelor of Commerce from St. Joseph College of Commerce in Bengaluru and later obtained a Master’s degree in Commerce from Bangalore University. He began his career with State Bank of India in 1988 as a Probationary Officer and has since worked in various roles in India as well as overseas locations.
Experience Across Multiple Banking Areas
During his career, Tonse has gained experience in several areas of banking, including corporate credit, international banking, treasury operations, equity portfolio management, retail banking, agriculture and rural banking, and banking training operations.
Leadership Roles Held Earlier
Before joining Yes Bank, Vinay Muralidhar Tonse held several important leadership roles at State Bank of India. He served as Managing Director and CEO of SBI Mutual Fund from June 2020 to December 2022. SBI Mutual Fund is currently the largest asset management company in India.
Earlier, he also served as Chief General Manager of SBI’s Chennai Circle from June 2018 to June 2020, where he managed a network of about 1,260 branches across Tamil Nadu and Puducherry.
Other Important Positions in SBI
Throughout his career at State Bank of India, Tonse held several key positions. These include working in credit and forex operations at the Offshore Banking Unit in Singapore, serving as a faculty member at the State Bank Staff College in Hyderabad, and heading the Treasury Marketing Unit in Bengaluru. He also worked as CEO of SBI’s Osaka branch in Japan from 2009 to 2013. Later, he served as Deputy General Manager for Equity and Commodities in the Global Markets division at SBI’s corporate centre in Mumbai from 2013 to 2016. He also worked as General Manager of the Corporate Accounts Group at the BKC branch in Mumbai from 2016 to 2018 and later as Deputy Managing Director of the Corporate Accounts Group at SBI’s corporate centre in Mumbai.
