Brands
Raymond undertakes employee engagement program
MUMBAI: Garment giant Raymond recently partnered with design and technology agency HEPTA to launch an Employee Engagement Platform for its annual event Interchange. The purpose of the entire exercise was to enable an ecosystem which would give Raymond a platform to engage with employees and a chance to the employees to partake in fun activities on the portal during the two-day event.
The portal enabled Raymond employees to participate in contests and quizzes. It also gave the employees access to various corporate videos and downloadable industry insights.
Raymond General Manager of IT Kunal Mehta says, “It was a pleasure working with HEPTA and having them on-board to design and support our Interchange Program for the top management at Raymond. HEPTA did a great job in a limited time span to design and develop the platform providing excellent customer experience. The entire team led by Faraz went beyond their scope to support us during the event. I look forward to working with HEPTA on many more initiatives at Raymond and would highly recommend them as partners.”
HEPTA founder and CEO Faraz Naqvi adds, “Working for a brand like Raymond is something we will always cherish. Not only did we get to work on a challenging project that added real value to their employees, but we managed to do it before the deadline. Their IT department’s timely support was crucial and we only have praises for them.
Founded in 2012, HEPTA has a client list of several brands for delivering result-driven user experience and technology services, such as Raymond, Godfrey Phillips, Palladium, Discovery Channel, Sanofi, Parag Milk Foods, Fountainhead, Indiabulls, etc.
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.
