Former SBI MD Vinay Tonse to succeed Prashant Kumar as Yes Bank MD and CEO

Vijay Tonse

Former State Bank of India Managing Director Vinay Muralidhar Tonse has been appointed as the Managing Director and Chief Executive Officer of YES Bank for a period of three years, the private lender said on Monday.

The Reserve Bank of India (RBI), through a letter dated February 3, 2026, approved Tonse’s appointment, which will take effect from the date he assumes charge. His appointment will be subject to approval by the shareholders of the Bank.

YES Bank said the move comes as its current MD & CEO, Prashant Kumar, continues to serve in the midst of his extended term. Keeping both leadership continuity and the Bank’s future growth requirements in mind, YES Bank had sought regulatory approval for new leadership, the letter said.

Tonse was Managing Director (Retail Business & Operations) at State Bank of India until November 30, 2025, and brings with him decades of experience in banking, particularly in retail lending and operations, the lender further said.

The Bank also confirmed that Tonse is not debarred from holding the office of a director by any order of the Securities and Exchange Board of India (SEBI) or any other authority, in compliance with stock exchange disclosure norms.

Details of the appointment have been disclosed on the websites of BSE Limited and the National Stock Exchange of India and are also available on YES Bank’s website, the lender said.