MAM
Birla Lifestyle discontinues alliance partnership with Eapro Global
MUMBAI: Birla Lifestyle, one of the leading household appliances, established in 1992 and part of the Rs. 3000 cr Indian conglomerates of The Yash Birla Group, has announced that they discontinue its alliance partnership between Birla Lifestyle and Eapro Global Ltd. as per their alliance MOU.
On the occasion Birla Lifestyle Consumer Products Pvt Ltd. CEO Manoj Singh said, “Our decision was based on audit report findings mentioning breach of code of conduct and business practices by Eapro Global Limited. Birla lifestyle always believe to build-up long term business association with their potential business partners to set-up the wide range of platform jointly with their partners to streams line the consistent business opportunity. With significant acceleration expected in the innovative business over the next few years, but due to non responsive approach & attitude on business and code of conduct is having adverse effect on brand equity. Keeping this in view, we believe this discontinuation is right approach and to maintain our brand equity same is value addition for our group. An auditor report has also come as negative in alliance books of accounts and there were many ‘Breach of Contract’ as per Brand Alliance Agreements.”
“The management would like to inform to all the stakeholder, business associates, channel partners, dealer & distributors, employee, advisors and other vendors, including investors etc and other stakeholders for an interaction on the need and likely impact of this change in the system. Birla Lifestyle has no business association with Eapro Global Ltd, in any business line including their products. Birla lifestyle and Eapro Global limited are two independent entities and hereafter and there would be no corporate interference. Brand Alliance partnership is been diluted and going forward Eapro Global Limited is not entitled of using our legacy of Birla Group. In case any guilt is found Birla lifestyle can take severe action against as per company acts” he added.
As mentioned both companies are separate entity bridging with brand alliance strategy and board of directors and management of the company remains same in Birla Lifestyle in case any changes will be updated on the same. Eapro Global has an independent management and they follow their code of conduct as per company act.
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.
