MAM
Mandeep Malhotra promoted to president and head Mudra Max
MUMBAI: Mandeep Malhotra has recently been elevated to president and head Mudra Max and will report to Mudra Group COO Pratap Bose.
Malhotra will be in charge of the Mudra Max’s experiential wing namely Kidstuff, Celsius, Terra and Concrea and retail cluster which includes Prime Retail, Prime Consult, Prime Wayfinding, Multiplier and Pratham. He will also continue with his current role as head of OOH.
Malhotra said, “Mudra Max is a great place to work as it provides a supportive and enabling environment that helps people realize their full potential. I look forward to taking charge of this mandate and leading my team in achieving new highs for our clients.”
Bose said, “Over the last three years Mandeep has done a commendable job in driving the growth and profitability of our OOH businesses and also in creating the finest outdoor team in the country. That apart, his charm, confidence and ‘never say die’ spirit has been extremely endearing and infectious which has always been his biggest asset.”
With a Masters in Business Advertising from Melbourne, Malhotra has over 12 years of professional experience in outdoor media. Prior to this appointment, he has worked with Clear Channel India, Rediffusion DY&R, 141 Wall Street (the OOH arm of Bates 141), Asian Age, Pioneer and Total Media Melbourne. He has managed brands such as Tata Indicom,
Airtel, Reebok, Discovery, CNN IBN and Nokia among others. He has won four One Show awards, three Pencil Awards and a few dozens at the Outdoor Advertising Awards (OAA).
A part of the Gold Lion team at Cannes, he has also received an award for The Entrepreneur of the Year along with bagging The Suit of the Year twice at Ogilvy & RMG. He is the brain behind the recent successful launches of Aircel, Pepsi, Reebok, HT, Jet Airways, Reliance Capital, Micromax and Amway.
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.
