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Covid relief: Hyundai announces Rs 20 crore package for worst-hit states
MUMBAI: To aid India’s Covid relief efforts, Hyundai Motor India Foundation (HMIF), the philanthropic arm of Hyundai Motor India, has announced a Rs 20 crore relief package. The amount from Hyundai Motor India will be used for a series of initiatives to offer infrastructural assistance to the most affected states of Maharashtra, Delhi, Haryana, Telangana, and Tamil Nadu.
Through this fresh step in Hyundai’s Covid relief programs, the company will deploy resources to set up oxygen generating plants in hospitals, to aid critical patients and help hospitals become self-sufficient in oxygen.
Apart from this, the HMIF will also aid the installation of medicare facilities and provide support staff to various hospitals and cater to their operational cost for the next three months and further if needed, Hyundai Motor India Limited said in a statement.
“The second wave of this Covid2019 Pandemic has triggered an unprecedented crisis for the nation. In times of despair we often lose hope amidst the chaos, but it is also times such as these that bring out the best of humanity within us all. To offer meaningful assistance to the most affected cities and states, Hyundai has redeployed its resources and channelled efforts that will provide relief during these difficult circumstances. We are organising resources on a war footing and hope to help in abating this crisis,” said HMIL managing director and CEO SS Kim.
In the statement, HMIL made it clear that the relief package offered by the company is to ”ensure timely assistance is delivered to highly affected cities and states the company is evaluating all options to expedite the deployment of these resources on a war footing.”
Hyundai has also announced a vaccination drive among its employees, aged 45 and above at its manufacturing unit in Tamil Nadu through the office of the Sriperumbudur government primary health centre.
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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.
