MAM
Saraf Furniture to hire 250 professionals from the LGBTQ+ community
New Delhi: In a bold move, which is perhaps a first for Corporate India, furniture brand Saraf Furniture is actually walking the talk when it comes to championing LGBTQ+ rights at the workplace. The solid wood furniture player announced that it will hire about 200-250 professionals from the LGBTQ+ community in the financial year 2021-22 to ensure ‘Equality in the Workplace’.
The company said it is carving out a detailed plan to constitute an expert committee for the smooth execution of the entire process. Professionals from the LGBTQ+ community will be able to explore careers at the company in a diverse range of job profiles – interior designers, after-sales support, HR, chat support individuals, website developers, Search Engine Optimization (SEO), AutoCAD experts, digital marketing, supply chain managers, to name a few.
The company has also been running awareness and training-related programs on lifestyle diversity for their existing employees as well. A list of new policies including major ones like Gender Affirmation and Sexual Harassment Prevention Policies are all set to be implemented. Furthermore, Saraf Furniture will also be constructing unisex washrooms.
“There is a famous idiom – Practice what you preach. And, I firmly believe in this. We can’t afford to speak LGBTQ+ equality in the workplace if we fail to implement this in our workplace. Saraf Furniture has taken a firm decision to come forward and set an example for others to be followed by living up to its firm commitment towards the LGBTQ+ equality in the workplace in the true sense”, says Saraf Furniture founder & CEO Raghunandan Saraf, on the policy decisions pertaining to LGBTQ+ equality at his organisation.
With the month of June globally recognised as Pride month, many brands today flaunt the community’s rainbow colours on their logos via their social media handles. However, on-ground measures are yet to keep pace with the number of brands championing the cause on Instagram. Hence brands like Saraf Furniture need to be lauded so that more corporates can also take a step forward in accomplishing increased inclusivity, diversity and equality in the workplace.
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.
