MAM
Flash.co appoints Amit Verma as chief product and technology officer
Mumbai: Flash.co, the fast-growing consumer app building a unique shopping experience for online shoppers, is pleased to announce the appointment of Amit Verma as its chief product and technology officer (CPTO). This move comes as Flash.co accelerates its growth in India and prepares for an expansion into global markets starting this year.
Amit Verma is an alumnus of IIT Kharagpur and the former chief technology officer at Practo. He brings extensive leadership experience, having successfully led technology teams at Big Basket, Ola, Oracle, and Yahoo. His appointment at Flash.co is a significant step towards the company’s goal of transforming the shopping experience for the top 250 million shoppers worldwide.
Since its launch in April 2023, Flash.co has rapidly built up a user base of 600,000 plus users, achieving an annual run rate of tracking over 12 million orders across 2200 plus brands. Backed by Blume Ventures and Global Founders Capital, the company has secured over $12.5 million in funding, positioning itself for a highly anticipated US launch in the coming months. The platform aims to revolutionize customer shopping experiences with features like seamless shopping tracking, AI-powered spam-free inbox, in-depth spending analytics, personalized lifestyle rewards and more.
Speaking about joining Flash.co, Amit Verma, expressed his delight and added, “I am really excited to join the Flash.co team, drawn by the problem statements being solved & their global aspirations. My immediate focus would be to re-architect the existing systems for stability and scalability required for global expansion. I would focus on nurturing the culture of customer centricity, speed & innovation, creating next generation products for both customers and brands.”
Flash.co CEO Ranjith Boyanapalli expressed his excitement about Amit’s appointment and said, “We are thrilled to welcome Amit as our CPTO. He will be integral to the company’s commitment to delivering exceptional global products in the coming days. Flash.co is eager to witness its next growth chapter under his leadership and acumen.”
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.
