Yes Bank, a private sector lender, said on 3 February that Vinay Muralidhar Tonse has been appointed as its new Managing Director and Chief Executive Officer for a three-year term. The nomination was authorised by the Reserve Bank of India (RBI).
The approval was given by the RBI in a letter dated February 3, 2026, and Mr. Tonse’s tenure will be effective from the moment he enters control, according to a regulatory statement the bank made to the stock exchanges. Shareholder approval of the bank is required for his appointment.
The present MD and CEO, Prashant Kumar, is continuing his extended term at the same time as the change takes place. The bank stated that it has sought new leadership from the regulator, taking into consideration Mr. Kumar’s wishes and the needs of the institution’s future expansion.
Before this, from November 30, 2025, Mr. Tonse was the Managing Director (Retail Business & Operations) at State Bank of India. Retail banking, operations, and managing large-scale financial services are some of his areas of expertise.
In accordance with relevant stock market circulars, Yes Bank has additionally verified that Mr. Tonse (DIN: 06695367) is not forbidden from serving as a director by SEBI or any other statutory authority. All relevant information is available on the bank’s website and has been disclosed in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
