Private sector lender YES Bank on Monday confirmed that the Reserve Bank of India has approved the appointment of Vinay Muralidhar Tonse as its Managing Director and Chief Executive Officer for a term of three years. The approval was conveyed by the central bank through a letter dated February 3, 2026, and will come into effect from the date Tonse assumes charge, subject to shareholder approval.
In a regulatory filing, YES Bank stated that the appointment has been made while keeping both leadership continuity and the bank’s future growth requirements in mind. The bank’s current MD & CEO, Prashant Kumar, will continue to serve during his extended tenure, ensuring stability during the transition phase.
Vinay Muralidhar Tonse was until recently the Managing Director in charge of Retail Business and Operations at State Bank of India, a position he held until November 30, 2025. He brings with him decades of experience in the banking sector, with a strong background in retail lending, branch banking, and large-scale operations, areas considered critical as YES Bank continues to strengthen its retail franchise and operational resilience.
The bank also clarified that Tonse is not debarred from holding the office of a director by the Securities and Exchange Board of India or any other regulatory authority, in line with disclosure requirements under stock exchange regulations.
The appointment marks an important leadership milestone for YES Bank as it continues its post-reconstruction journey, focusing on balance sheet stability, retail expansion, and sustainable growth under close regulatory oversight.
From a risk awareness perspective, RBI-approved leadership appointments reinforce governance credibility and regulatory confidence at systemically important banks. Continuity alongside a structured transition reduces execution, operational and stakeholder-risk as YES Bank advances its post-reconstruction growth agenda.
