MAM
Magna Global says Indian ad market should grow 11.9% in 2014
MUMBAI: Folks in advertising, there’s reason to cheer. The Indian advertising market is going to grow at a healthy 7.8 per cent in 2012-2013, outpacing its GDP growth, is the prediction of Intepublic group’s strategic global media unit Magna Global. Television and print are expected to contribute two thirds to this growth with television advertising growing at 6.6 per cent, Digital media at 31 per cent (faster than any other category with mobile and video outgrowing traditional display), newspapers (expanding in language and regional pockets) should grow at six per cent, while magazine advertising growth is expected to be flat. Radio and out-of-home advertising will grow +8.0%.
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India Advertising Market (Media Owner Revenues) |
Magna says this is relatively good highlights that this will happen at a time when India suffered it worst near decade slowdown in 2012, with real GDP growing by +4.0% compared to +7.7% in the previous year (source IMF). It adds that India’s economic outlook was downgraded by ratings agencies, which dampened investment sentiment. The impact of the corrective measures that the government took like reducing subsidies, opening up FDI in retail, and a plan to introduce targeted subsidies through direct transfers to reduce expenditure, remains uncertain in the short to medium term, says Magna And it cautions that in its April report, the IMF has forecast 5.7 per cent of real GDP growth this year and 6.2 per cent in 2014.
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India advertising revenue by media category 2012-2013 |
Magna believes the Indian advertising market is going to show further buoyancy in 2014 by growing 11.9 per cent. The reason: the investment climate is expected to warm up and demand from external economies backed by solid domestic consumption will boost the Indian economy.
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.
