Brands
Pratik Vaidya appointed director on IACC National Executive Council
MUMBAI: The Indo-American Chamber of Commerce has added fresh perspective to its national leadership with the appointment of Pratik Vaidya as director of its National Executive Council.
Vaidya, who is chief vision officer and managing director of Karma Management Global Consulting Solutions Pvt Ltd, will play a key role in shaping the Chamber’s strategy, policy engagement and initiatives aimed at deepening India US trade and industry ties.
The appointment builds on Vaidya’s growing influence in policy and compliance circles. He recently took charge as head and convenor of the HR Compliance and Labour Committee at the national level for the India SME Forum, where he works closely with MSMEs on labour code implementation and transparent, business-friendly compliance practices.
With more than two decades of experience, Vaidya has steered Karma Global into a respected international advisory brand. Over the past two years, he has led the launch of three overseas ventures in Canada, the United States and the United Kingdom, where he serves as chairman and managing director.
His global exposure includes representing India at major international forums. He led delegations at the SelectUSA Summit in 2022 and again in June 2023, under the Ministry of MSME, the Ministry of External Affairs and the Indo-American Chamber of Commerce. In July 2023, he also participated in Collision 2023 in Canada, engaging with global innovators and forging partnerships to strengthen Karma Global’s technology and compliance capabilities.
An active member of industry bodies such as the Indo-American Chamber of Commerce, India SME Forum, Indian Chamber of Commerce, Nasscom and Assocham, Vaidya is known for bridging policy intent with on-ground business realities.
Commenting on his new role, Vaidya said India and the United States are entering a phase of deeper economic collaboration driven by trade, innovation and strategic alignment. He added that his focus would be on strengthening dialogue between industry and policymakers, promoting compliant and sustainable business practices, and creating practical platforms for knowledge sharing.
With his mix of global exposure and hands-on expertise, Vaidya’s entry adds momentum to the Chamber’s efforts to make cross-border collaboration not just bigger, but better.
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.
