Mumbai: YES Bank has announced a change in its top leadership, with Vinay Muralidhar Tonse assuming charge as Managing Director and Chief Executive Officer effective April 6, 2026. The appointment follows the completion of Prashant Kumar’s tenure, who stepped down from the role on April 5 and consequently ceased to be a director on the bank’s board, the lender said in a regulatory filing.
Tonse joins YES Bank from State Bank of India (SBI), bringing with him nearly four decades of banking experience. Most recently, he served as Managing Director in charge of Retail Business and Operations at SBI between November 2023 and November 2025, where he was responsible for overseeing one of the country’s largest banking networks.
During his stint at SBI, Tonse managed operations spanning approximately 23,000 branches, led a workforce exceeding 230,000 employees, and handled business volumes of around ₹76 lakh crore as of November 2025. His extensive experience covers multiple domains including corporate lending, treasury, international banking, retail operations, and rural finance.
A career banker who began as a probationary officer with SBI in 1988, Tonse has held several key leadership positions over the years. His international exposure includes assignments such as heading SBI’s Osaka branch in Japan and working with its offshore banking unit in Singapore. Domestically, he has served as Chief General Manager of the Chennai Circle and as Deputy Managing Director at the Corporate Accounts Group.
Between 2020 and 2022, Tonse also led SBI Mutual Fund as its Managing Director and CEO, further strengthening his credentials across financial services.
The leadership transition comes at a crucial juncture for YES Bank, which has been working to reinforce its governance framework and operational stability following its reconstruction in recent years. Tonse’s appointment is expected to play a key role in steering the bank through its next phase of growth and consolidation.
