MAM
CoinSwitch brings in R Venkatesh as SVP of public policy
Mumbai: Homegrown crypto unicorn CoinSwitch has announced the appointment of R Venkatesh as senior vice president of public policy.
Venkatesh will work on policy, regulation, and external affairs to help create a regulatory framework for crypto assets in India, which fosters growth and innovation with consumer protection at the forefront, said the company in a statement.
“I am delighted to welcome Venkatesh to the CoinSwitch team,” said CoinSwitch founder and CEO Ashish Singhal. “His rich experience across organisations with significant government interfaces will help accelerate our vision towards building a wealth-tech platform that customers and regulators can trust.”
Venkatesh comes with nearly 25 years of experience in policy and government relations spanning diverse industries, including e-commerce, oil and gas, liquor, banking, and tobacco, with complex policy challenges impacting business operations. Most recently, Venkatesh was associated with MakeMyTrip India as the head of corporate affairs.
“I am excited to join CoinSwitch on their mission to make money equal for all, keeping customer protection at the forefront,” stated R Venkatesh on his new assignment. “My top priority is to work closely with the industry and the Government to help create a progressive regulatory framework for this emerging but attractive asset class to support more Indians in their financial journey.”
CoinSwitch, in September 2021, raised $260 million in Series C funding from Coinbase Ventures and Andreessen Horowitz (a16z) to become India’s most valued crypto unicorn at a valuation of $1.9 billion.
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.
