MAM
Political ads to go up 30% in US this election
MUMBAI: The 2012 political elections has come as a boon for the local television channels in the US as candidates are expected to spend big monies on advertising.
According to a report by Reuters, the hard-fought, and expensive, battles will provide a welcome windfall for TV stations, particularly in the most tightly contested states that will decide if President Barack Obama wins re-election or loses to his yet-to-be-decided Republican opponent.
The experts believe that spending on political advertisement will go up by 30 per cent this year as compared to 2008. The increase might be attributed to the landmark “Citizens United” 2010 Supreme Court ruling, which ended most restrictions on donations by corporations and unions. This is the first presidential election since the ruling.
As per Reuters, the Court decision encouraged the creation of Super Political Action Committee (PACs) fundraising committees that can spend money to support a candidate but cannot officially coordinate with campaigns.
“Around 85 per cent of the money that is raised and spent on advertising historically goes toward local broadcast TV. In 2012, that could total between $2.5 billion to $3 billion,” Kantar Media‘s Campaign Media Analysis Group president Ken Goldstein told Reuters.
It is expected that the ruling will help boost the fortunes of local TV stations.
CBS Corp is among potential beneficiaries, which owns stations in Colorado, Florida, Pennsylvania and Michigan.
Other beneficiaries include Rupert Murdoch‘s Fox controls stations in Michigan, Florida and Pennsylvania, and Gannett Co with channels in Colorado, Florida and Michigan.
Meanwhile, which stations cash in the most will also depend on how quickly the Republican party settles on a nominee. A long, tightly-contested Republican Primary, for instance, could mean stations in the 6 March “Super Tuesday” states such as Massachusetts, Ohio, Tennessee and Virginia could see heavy activity from Republican spenders.
Even California may get an unexpected shot of campaign spending right before its 5 June vote if the Republican race is still up in the air.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
