Vinay Muralidhar Tonse assumed charge as Managing Director and Chief Executive Officer of Yes Bank on 6 April 2026, stepping into the role immediately following the conclusion of his predecessor's tenure the previous day. The appointment, approved by the Reserve Bank of India, covers a defined three-year term running until 5 April 2029. The RBI approved the appointment on 3 February 2026, Yes Bank said in an exchange filing.
Tonse succeeds Prashant Kumar, whose own term as MD and CEO formally concluded on 5 April 2026. Kumar, a former State Bank of India executive, took charge of Yes Bank after its 2020 reconstruction, under which a State Bank of India-led consortium of lenders recapitalised the bank. His term was extended by six months in August 2025, to 5 April 2026.
AN SBI VETERAN
Tonse is a former Managing Director of State Bank of India, India's largest lender, and previously served as MD and CEO of SBI Funds Management.
Yes Bank is backed by Japan's Sumitomo Mitsui Banking Corporation, which received RBI approval in August 2025 to acquire up to 24.99% of the lender.
Tonse's three-year mandate takes Yes Bank through to April 2029.