Mumbai-based Yes Bank Ltd has received the Reserve Bank of India (RBI) approval for the appointment of Vinay Muralidhar Tonse as Managing Director & Chief Executive Officer for a period of three years.
The tenure will commence from the date he assumes charge as MD & CEO of the private sector lender.
To ensure a smooth leadership transition and enable familiarisation with the bank’s business and operations, the Board of Directors of Yes Bank, based on the recommendation of the Nomination and Remuneration Committee, has approved the appointment of MD & CEO (Designate) Vinay Muralidhar Tonse March 12, 2026 to April 5, 2026.
During this period, Tonse will work with the management team ahead of formally assuming charge.
Tonse will take over as Managing Director & CEO with effect from April 6, 2026, following the completion of the tenure of MD & CEO Prashant Kumar, who will demit office on April 5, 2026.
The bank said it will inform the stock exchanges once Tonse formally assumes charge as the MD & CEO.
He started his career with SBI in 1988 as a Probationary Officer. From November 2023 till November 2025, he was the Managing Director (Retail Business and Operations).