RBI Clears Appointment of Former SBI MD as MD & CEO of Yes Bank

The Reserve Bank of India (RBI) has approved the appointment of Vinay Muralidhar Tonse, former managing director of SBI, as the bank’s Managing Director and Chief Executive Officer for a three-year term, subject to shareholder approval.This decision comes at a crucial phase when Yes Bank is transitioning from its post reconstruction stability phase to long term growth.

Vinay Tonse MD & CEO of Yes Bank

• Yes Bank informed stock exchanges that RBI, through a letter dated February 3, 2026, has approved Vinay Tonse’s appointment as MD & CEO for three years from the date he assumes charge.
• His appointment will require approval from the bank’s shareholders.
• Tonse will succeed Prashant Kumar, whose term ends on April 6, 2026, after receiving a six-month extension from the regulator.
• The transition is expected to be smooth, ensuring continuity in leadership.

Who Is Vinay Tonse

• Vinay Tonse is a seasoned banker with decades of experience at State Bank of India.
• He retired from SBI in November 2025 as Managing Director, where he headed retail banking operations.
• Before becoming MD, he served as Deputy Managing Director, overseeing corporate group accounts handling large corporate clients.
• His experience in both retail and corporate banking is seen as a strong fit for Yes Bank’s evolving business strategy.

About the Outgoing CEO: Prashant Kumar

• Prashant Kumar played a critical role in stabilising Yes Bank after its crisis in March 2020.
• He was initially appointed as administrator when the bank was reconstructed by RBI and the government with support from a consortium led by SBI.
• Later, he became MD & CEO and received a three-year extension in October 2022.
• The recent six-month extension till April 2026 was aimed at ensuring leadership continuity while new investors assessed the bank’s long-term direction.

Key Summary at a Glance

Question

Q. Who has been approved by RBI as the new MD & CEO of Yes Bank in 2026?

A. Prashant Kumar
B. Chandrakant Panda
C. Vinay Muralidhar Tonse
D. Rajnish Kumar