RBI Approves Vinay Muralidhar Tonse as Yes Bank's MD & CEO
The Reserve Bank of India (RBI) officially sanctioned the designation of Vinay Muralidhar Tonse as the managing director and chief executive officer of Yes Bank, accordng to reports.
The filing further elucidated that Prashant Kumar, the incumbent MD and CEO, will retain his position while fulfilling his extended tenure. Tonse's appointment is contingent upon shareholder consent.
Also Read: Adani to Set Up 40 MW AI Green Data Centre in Hyderabad
“Prashant Kumar, MD/CEO of the Bank, is currently in the midst of his extended term. Keeping his preferences and the Bank’s growth needs in perspective, the Bank had sought regulatory approval from the Reserve Bank of India for new leadership”.
“In this regard, we would like to inform you that RBI vide its letter dated February 3, 2026 has approved the appointment of Vinay Muralidhar Tonse as MD & CEO of YES BANK Limited for a period of three years w.e.f. the date of taking charge”, according to YES Bank.
Previously, he held the position of managing director (Retail Business & Operations) at State Bank of India (SBI) until November 30, 2025. Having accumulated years of experience in the banking sector, Tonse possesses extensive knowledge in retail lending and operations, as stated by Yes Bank.
Also Read: Staffing Company Quess Corp Elevates Lohit Bhatia as CEO
The lender has also verified that he has not been disqualified from acting as a director by the Securities and Exchange Board of India (SEBI) or any other regulatory body, in accordance with regulations governing stock exchange disclosure.
Yes Bank reappointed Prashant Kumar as MD and CEO in 2025, extending his tenure from October 6, 2025 to April 5, 2026. Kumar initially assumed the role in March 2020 during the bank's reconstruction, and was later renewed for an additional three-year term in October 2022.
Under the guidance of Kumar, Yes Bank embarked on a transformative path to become a revitalized, restructured, and significantly capitalized institution.
Before his tenure at Yes Bank, Kumar served as the deputy managing director and chief financial officer at SBI, accumulating 34 years of extensive experience in various capacities including credit analysis, operational management, and human resource oversight.
Also Read: Tamil Nadu CM Inaugurates Corning’s Cover Glass Facility
In 1983, he commenced his career at SBI as a probationary officer and progressed through various pivotal roles such as deputy managing director overseeing human resources and corporate development, deputy managing director and chief operating officer, chief general manager of the Kolkata Circle, general manager at the Local Head Office in Mumbai, deputy general manager specializing in industrial relations, and faculty member at the prestigious State Bank Academy in Gurugram.