MAM
Yatra Online Ltd appoints Gaurav Luthra as chief business officer – new business development
Mumbai: Yatra Online (NASDAQ: YTRA), through its Indian subsidiary, Yatra Online Ltd (“Yatra”), India’s largest corporate travel services provider (Source: CRISIL Report) and a leading online travel company in India among OTA players in terms of gross booking revenue and operating revenue, for fiscal year 2023, has announced the appointment of Gaurav Luthra as chief business officer – new business development.
As a seasoned professional with over 28 years of experience, Gaurav brings extensive industry expertise to the table. He will lend his strategic leadership to drive the company’s corporate travel proposition focused on Mid-market customers and will play an instrumental role..
As a chief business officer at Yatra, Gaurav will leverage his extensive experience and proven track record, for building and further enhancing Yatra’s mid-market and SME corporate travel proposition, and developing new products such as visa facilitation and car rentals for business travelers, thereby delivering financial growth for the company. Gaurav’s appointment further strengthens Yatra’s commitment to excellence and its vision of providing exceptional travel experiences to customers.
In his previous role as managing director of FCM Travel, Gaurav showcased his prowess in overseeing Indian interests for Australia’s Flight Centre Travel Group (FCTG). During his 25-year tenure at FCTG India, Gaurav emerged as a revered industry veteran, renowned for pioneering product innovations, leading technological advancements, and fostering fruitful supplier relationships to drive revenue growth.
Commenting on his appointment, Gaurav Luthra said, “I’m excited to embark on this new chapter with Yatra, and contribute to its continued success in the travel industry. Yatra’s current trajectory is incredibly promising, and I look forward to collaborating with the team to further fortify this growth. As the newly appointed Chief Business Officer at Yatra, my immediate focus will be on meticulous strategic planning to unlock the full potential of the brand, surpassing the expectations of both our customers and stakeholders alike. With innovative strategies, I’m confident we’ll lead Yatra to even greater success, delighting customers every step of the way.”
Yatra Online Ltd CEO & whole-time director Dhruv Shringi said, “Gaurav brings with him a wealth of knowledge, the right expertise, and capabilities that will be fundamental to help accelerate Yatra’s presence in the online travel aggregator space. I’m thrilled to have him come onboard as he will play a pivotal role in executing the many exciting opportunities we have on the horizon as we enter our next growth 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.
