MAM
Paytm Money elevates Pravin Jadhav to MD & CEO
MUMBAI: Paytm Money – India's largest online platform for mutual fund investments and the wholly-owned subsidiary of One97 Communications that owns & operates Paytm, announced that it has promoted Pravin Jadhav, currently its Whole-time Director to Managing Director & Chief Executive Officer.
Paytm founder and CEO Vijay Shekhar Sharma said, "In last one year, under Pravin's leadership, the team at Paytm Money has built an entire organisation, product, and business grounds up. As a true entrepreneur, Praveen has made Paytm Money from an idea to India's largest mutual fund investment platform today. As our business expands in Stock Broking, NPS, and other investment products, I am very proud that Pravin will lead the company as its Managing Director & CEO."
An ex-entrepreneur himself, Pravin is well recognized and followed in the Indian internet & startup domain as a product & growth leader. With near two decades of professional experience, prior starting with Paytm Money he served as the Chief Product and Growth Officer at Servify; earlier he led Product Management for e-commerce & mobile at Rediff.com, and was Founder & CEO of Wishberg.
Paytm Money MD and CEO Pravin Jadhav said, "Everyday we continue to build Paytm Money to manage user's trust. It has been an exciting journey so far with Paytm Money and I am looking forward to the massive opportunity that lies in front of us to make investments more simpler, transparent and accessible to millions of Indians."
The company now has over 3 Million users on its investment platform and is the single largest contributor of SIPs to the mutual funds' industry, also contributes to about 40% of all SIPs registered in Direct Mode. Paytm Money aims to invest INR 250 Crores over the next 18-24 months as it is expected to launch new businesses including Stock Broking, NPS and more in this financial year.
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.
