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
| Aspect | Details |
| Why in News? | RBI approves new MD & CEO for Yes Bank |
| Incoming CEO | Vinay Muralidhar Tonse |
| Outgoing CEO | Prashant Kumar |
| Tenure | Three years |
| Approval Pending | Shareholders of Yes Bank |
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
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