Yes Bank has announced a key leadership change through a regulatory filing, confirming that Prashant Kumar concluded his tenure as Managing Director & CEO on 5 April 2026 and has stepped down from his role as well as from the bank’s Board of Directors.
Effective 6 April 2026, Vinay Muralidhar Tonse has assumed charge as the new Managing Director & CEO of the bank. His appointment is for a three-year term until 5 April 2029, subject to shareholder approval and in line with the terms sanctioned by the Reserve Bank of India. The bank has also clarified that Tonse is not debarred from holding the office of a director by any regulatory authority.
Vinay brings with him nearly four decades of banking experience. He previously served as Managing Director (Retail Business & Operations) at State Bank of India between November 2023 and November 2025. Over the years, he has also held leadership roles as MD & CEO of SBI Mutual Fund and headed SBI’s Chennai Circle.
Having begun his career with SBI in 1988, Tonse has built deep expertise across corporate credit, retail banking, international banking, treasury operations, equity portfolio management, agriculture, and rural banking—experience that positions him strongly to lead Yes Bank into its next phase of growth.
