MAM
Mumbai City FC seals global partnership with Midea
NEW DELHI: Mumbai City FC has inked a new partnership deal with home appliances and air-treatment company Midea.
For the 2020-21 season, Midea will feature on the sleeve of the Club’s first team shirts and will be visibly present on match days and at the Club’s training facility at the Nagoa Village Panchayat Football Ground. Saturday, 21 November will be Mumbai City’s first match with the new kit.
Brando Brandstaeter, head of global brands and communication at Midea group’s International business division said, “Midea is very passionate about its global brand building. With the rise of football in India, partnering with Mumbai City was a logical step to engage even more with our young and passionate Indian consumers. Needless to say, seeing Ranbir Kapoor wearing the Midea branded Mumbai City shirt will help to show our surprisingly friendly product range not only to Mumbai’s citizens, but also to the entire Indian subcontinent.”
Mumbai City FC co- owner Bimal Parekh said, “We are delighted to be partnering with such a fantastic global brand. Midea’s ambition to grow in India has been impressive and we share their passion and commitment to develop and grow. We look forward to a successful season together.”
City Football Group brokered this partnership as part of its consultancy services to the Club.
Midea India Pvt. Ltd VP Pranab Mohanty said the partnership with Mumbai City FC will deepen the positive impact the brand is trying to make in communities across India. “Our association with football is a natural fit as it has a deep-rooted connect with our target audience in India and will help in enhancing Midea’s brand visibility, target audience reach and will create new avenues of collaboration for success.”
Midea has a comprehensive range of residential and light commercial air conditioning solution including VRF, home appliances & small domestic appliances for India market, which includes washing machine, dish washer, refrigerator and water heaters. These products are available on e-commerce platform.
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.
