MAM
Tokyo Olympics: Adani Group comes onboard as sponsor for IOA
Mumbai: There’s palpable excitement in the air as the mega global sporting event, Tokyo Olympics 2020, after a year’s delay due to the Covid-19 pandemic, finally kicks off on 23 July. Brands have also come out in full support of the Indian squad at the Olympics- some via curating Olympic-special campaigns, or by representing the Tokyo-bound athletes, to coming onboard as sponsors.
The Indian Olympic Association (IOA) on Friday announced that it has roped in Adani Group as a sponsor for the 2020 Tokyo Olympics and the future.
“We are happy to inform you about one more sponsorship which is confirmed by Adani Group to IOA for the Olympics since our last update to you on 16th July. Adani Group has confirmed to us a good sponsorship association and support for the future also,” said IOA secretary-general Rajeev Mehta in an official statement.
Earlier, IOA had announced that SFA Pvt Ltd had joined as one of its sponsors for the multi-sport event.
“We are happy to inform you about one more sponsorship which is confirmed by SFA Pvt Ltd to IOA since our last update to you on 14th July,” said Rajeev Mehta. “SFA has confirmed to us a sponsorship of Rs one crore,” he added.
IOA had earlier entered sponsorship agreements with MPL Sports Foundation as the ‘Principal Sponsor’ covering the Tokyo Olympic Games, 2022 Asian Games, and Commonwealth Games.
The IOA then confirmed global nutrition company Herbalife as one of its sponsors.
As per the IOA, MPL will pay a total of Rs eight crore to IOA and in addition to this sports kit for the 2022 Asian Games and Commonwealth Games, the Indian contingent will also be supplied by them.
In June, JSW Group was also roped in as a sponsor for the Tokyo 2020 Olympic Games. In a statement issued by IOA chief Narinder Batra and secretary Rajeev Mehta, the IOA had said that JSW’s CEO Parth Jindal had confirmed the sponsorship of Rs one crore to the governing body.
Additionally, Amul had also come forward to support IOA for the Tokyo 2020 Olympic Games. Amul’s sponsorship is for Rs one crore for a period till 31 December.
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.
