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Ezeepay’s Banking Mitras fuel rural jobs and digital reach
Fintech network widens access, backs women entrepreneurs
MUMBAI: Ezeepay is taking banking to the back roads and bylanes, turning small shops into digital lifelines for communities that often sit outside the formal financial grid. Through its expanding Banking Mitra network, the fintech platform is not only delivering essential services to rural and semi urban pockets, it is also quietly stitching together new livelihoods along the way.
At the heart of the push is a simple idea. Equip local retailers with digital tools, and they become the neighbourhood’s go to counter for banking, payments, and insurance. From Aadhaar enabled withdrawals and domestic money transfers to bill payments and micro insurance, these outlets now offer a mini bank experience where traditional branches are few and far between.
The ripple effect is visible in the form of self employment. As the network grows across tier 2, tier 3, and rural India, it is opening doors for thousands of small entrepreneurs. Women, in particular, are stepping into the role of Banking Mitras, turning kirana counters and small retail points into hubs of financial activity.
Ezeepay co-founder and chief executive Shams Tabrej, said the network is designed to do more than just process transactions. He noted that the initiative is helping women entrepreneurs gain confidence in fintech tools, strengthen their businesses, and create sustainable sources of income in their communities.
The effort also aligns with the government’s She Mart announcement in the Union Budget 2026, which aims to promote women led enterprises and self help group businesses. Ezeepay’s approach combines digital infrastructure, financial literacy training, and income opportunities, giving local retailers the tools to grow while bringing more people into the formal financial system.
With its last mile model, the company is betting that the next wave of digital adoption will not come from big cities, but from the country’s smaller towns and villages. And if its Banking Mitras have their way, the future of finance may arrive not through a bank branch, but across the counter of the local shop.
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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.
