MAM
‘Jewellers for Hope’ donate Rs 10 mn for needy kids
MUMBAI: Gem & Jewellery Export Promotion Council (GJEPC), in association with De Beers, presented the third edition of the ‘Jewellers for Hope’ gala charity dinner with an aim to collaboratively contribute for the upliftment of downtrodden and support the needyy.
Banker & philanthropist Amruta Devendra Fadnavis and actor Arjun Kapoor graced the occasion. This year the proceeds shall go to Girl Rising, Nanhi Kali NGOs working for the empowerment of Girl Child and Make a Wish Foundation, an NGO playing an integral role by granting the most cherished wish of Children living with life threatening illnesses hailing from socio economically backward society.
A total of Rs. 10 million was presented to three NGOs – with Rs. 33 lakh each to Girl Rising and Make a Wish and Rs. 35 lakh to Nanhi Kali Foundation. Noted singer Rekha Bhardwaj regaled the audience. The event was hosted by the inimitable Mandira Bedi.
Praveenshankar Pandya (Chairman, GJEPC), Russell Mehta (Vice Chairman, GJEPC) and Paul Rowley, Executive Vice President, Global Sightholder Sales, De Beers Group, hosted several jewellers, celebrities and prominent personalities expressed their views on aiding & empowering girl child during the black tie sit-down dinner. Manoj Dwivedi, Joint Secretary, Dept. of Commerce, Ministry of Commerce & Industry, Govt of India and many other prominent personalities from the gems & jewellery sector attended the event.
Pandya says, “Giving back to the society will make a big difference and transform the lives of many.” Rowley said, “We have a strong focus on the upliftment of women as we know how important they are to all aspects of our business.” Mehta said, “Consolidated efforts will give an impetus to the magnification of the impact of each one who takes up the challenge of making a difference.”
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.
