MAM
CarDekho appoints Parthasarathy VS as independent director
Mumbai: Auto-tech company CarDekho Group has appointed Parthasarathy Vankipuram Srinivas as an independent director. The appointment is in line with the company’s objective of strengthening its board and overall corporate governance within the CarDekho Group. The company is gearing up for its IPO (Initial Public Offering) in the next 12-14 months.
A seasoned business leader with 36+ years of experience in globally reputed organisations across a wide range of sectors, Parthasarathy has worked with the Mahindra Group in leadership positions for over two decades and with Xerox for 14 years. He currently serves as the non-executive non-independent vice-chairman of Allcargo Logistics, an Independent Director of recently listed Life Insurance Corporation (LIC), Imperial Auto Industries, IAI Industries, Greencell Mobility, and serves as Director of Rudi Multi Trading Company, Kids Clinic India (Cloudnine) and ECU Worldwide.
CarDekho Group co-founder and CEO Amit Jain said, “We are delighted to have Partha join our board. His diversified rich experience will help us further strengthen corporate governance as we prepare for our IPO and the next phase of growth.”
A chartered accountant from ICAI and ICAEW, UK, and an alumnus of Harvard Business School’s Advanced Management Program (2011), Parthasarathy is also the chairman nominee on the board of governance at the National Institute of Industrial Engineering (NITIE).
On his new role, Parthasarathy V S said, “CarDekho’s enduring vision, unparalleled track record and leadership position across various technology driven auto solutions have given it a great position in the market across India and abroad. I look forward to contributing in building on this success further.”
Parthasarathy previously held several industry forum positions as a chairman of Sustainable Council of Federation of Indian Chambers of Commerce and Industry (FICCI) – 2021, president – Bombay Chamber of Commerce & Industry (2019-2020), chairman of Association of Finance Profession of India (AFPI) (2015-2020), besides working closely with ministry of finance through CFO Board, and on global advisory boards for CISCO/ SAP.
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.
