MAM
PVR INOX Passport hits 20,000 subscribers within weeks of launch
Mumbai: PVR INOX Ltd, India’s leading multiplex chain, today announced that it has achieved the milestone of 20,000 subscriptions of its weekday movie plan, PVR INOX Passport. The milestone marks the completion of sale of the inaugural batch of 20,000 subscriptions. Remarkably, within few weeks of its launch, PVR INOX Passport has witnessed an extraordinary success in the cinema industry. The response to this pioneering program has been overwhelmingly positive, evident by the rapid sale of 20,000 Passports shortly after its grand unveiling. Designed to provide cinephiles with an unparalleled cinematic journey and affordable access to their beloved films, the Passport has swiftly become a phenomenon in the cinema industry
Taking note of this new venture’s success, the brand is already in process of creating a new version of Passport post a careful study of its recent launch and the consumer response. This evolution is not just informed by the valuable insights garnered from consumer behaviour, but also usage patterns observed during the initial phase and the consumer feedback during the process.
Reflecting on the resounding success of the PVR Passport, PVR INOX Ltd co-CEO Gautam Dutta expressed his elation, stating, “We are delighted with the overwhelming response generated during the first phase rollout of 20,000 Passport subscriptions. Our initiative, driven by a commitment to providing an affordable and enriching cinematic experience for all, resonates with movie lovers across India. We are certain that the innovative program will help us add more movie lovers to our fold, and enhance our bond with the movie lovers in our country. We are taking notes of the customer’s like and dislikes on the product and are eager to unveil a more refined iteration of the Passport in the upcoming 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.
