Yes Bank, which now has Japan's Sumitomo Mitsui Banking Corporation as its largest shareholder, has got another experienced State Bank of India official to be its chief. 

Vinay Muralidhar Tonse, former managing director of SBI, will be the new head of Yes Bank for a period of three years, replacing Prashant Kumar who ends his extended six-month term on 6 April.

Tonse’s appointment as MD and CEO has got approval from the Reserve Bank of India (RBI). It will now require shareholder approval. 

Kumar, who was chief financial officer at SBI, was brought in to turnaround Yes Bank in March 2020, after a clutch of banks came to rescue the private lender from collapsing amid a heap of bad loans. He was first appointed as administrator and soon after as MD and CEO of Yes Bank. He got his first extension in October 2022 for a three-year period.

Tonse retired from SBI in November 2025.