Ex-SBI MD Vinay Tonse to succeed Prashant Kumar as Yes Bank MD & CEO

RBI has approved the appointment of former SBI managing director Vinay Tonse as Yes Bank's MD & CEO for three years, subject to shareholder approval

Yes Bank late on Tuesday disclosed to the stock exchanges that the Reserve Bank of India (RBI) has approved Vinay Muralidhar Tonse as the managing director and chief executive officer (MD & CEO) of the bank for a period of three years. Tonse’s appointment is subject to shareholder approval.

 

Tonse will succeed Prashant Kumar as the MD & CEO of the bank.

 

Kumar’s term as MD & CEO was extended by six months by the regulator, effective October 6, 2025. His term is scheduled to end on April 6, 2026.

 

Tonse, like Kumar, is a former State Bank of India (SBI) banker. He retired from SBI in November 2025 as managing director, heading the bank’s retail operations.

 

 

Prior to being appointed managing director in November 2023, Tonse served as deputy managing director, overseeing corporate group accounts, which handle large corporate clients.

 

“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 with effect from the date of taking charge,” the bank said in an exchange filing.

 

“His appointment will be subject to the approval of the shareholders of the Bank,” the lender added.

 

Kumar was first appointed administrator of Yes Bank when it was reconstructed in March 2020 by the RBI and the government, with the help of a consortium of banks led by SBI. He was later appointed MD & CEO. Prior to that, Kumar was deputy managing director and chief financial officer of SBI. He received his first extension as Yes Bank MD & CEO in October 2022 for a three-year period until October 2025.

 

The six-month extension granted to Kumar was intended to give Sumitomo Mitsui Banking Corporation (SMBC), the new shareholder in the bank, time to decide on the lender’s leadership and long-term strategy.