MAM
Gizmobaba joins hands with Franchise India to get a national presence
MUMBAI: Gizmobaba – Portal for innovative gadgets and gizmos – is looking for rapid expansions. In order to expand its national penetration, the portal has joined hands with Franchise India, one of Asia’s leading franchise and retail management consultancy.
By partnering with Franchise India, Gizmobaba is aiming to cross the penetration phase and get into the fast track growth phase. Gizmobaba.com was established in 2012, looking at fulfilling the needs of Indian consumers looking for the latest innovative gadgets and gizmos. Parallel to electronic industry growth, ecommerce has emerged as one of the biggest platform to sell gadgets.
 |
Gizmobaba managing director Alok Chawla exults: “The brand has aggressive growth plans and intends to approach a standardised and benchmarked franchise strategy – A sustainable format for future growth that eases out operations, and ensures faster growth and a large brand presence. Thus, we have approached the business through a standardised franchise strategy on the basis of industry norms.”
Franchise India chairman Gaurav Marya asserts: “Considering the ‘Gizmobaba’ business model and the Industry, we have strategized a Franchise approach, UNIT Franchise which is a feasible option at this growth phase and the approach of Multi-Unit Franchise will be considered at the penetration phase of newer markets. Property should be ideally a Kiosk at a low rental place, but visibility factor should be considered.”
He further added, “We feel there exists high opportunity for the fantastic innovative products in the given segment offered by Gizmobaba and there is a shortage of such concepts which are customised as per end consumer needs. However, the model is most suitable with the franchise owned and franchise operated model targeting the tier-II and tier-III cities in the initial phase.”
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.
