Who is Vinay M Tonse the New Managing Director of the State Bank of India (SBI)
Vinay M Tonse has been appointed as the Managing Director of State Bank of India (SBI), India’s largest public sector bank. He is currently working as the deputy MD of the state-owned bank. In September, the Financial Services Institutions Bureau (FSIB) proposed Tonse’s name for the SBI Managing Director post.
The Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi, later approved FSIB’s recommendation and appointed Tonse as the MD of SBI. This position was vacant since Swaminathan Janakiraman left the office as the Deputy Governor of the Reserve Bank of India (RBI). SBI is run by four managing directors and one chairman.
With a market capitalisation of around Rs 5,00,000 crore, SBI is the largest lender in the country.
Tonse’s journey as one of the prominent bankers in the country started in 1988 when he was appointed as a Probationary Officer in SBI. In June 2018, Tonse ventured into the top management level by holding the position of Chief General Manager (June 2018 to June 2020) of SBI Chennai Circle. In August 2020, Tonse took the helm of SBI Funds Management Limited as Managing Director & CEO before joining the Corporate Accounts Group (CAG).
Tonse’s experience spreads across various verticals of banking such as Corporate Credit, International Banking Operations, Treasury Operations, Equity Portfolio Management, Private Equity, Venture Capital, Retail Banking, and Training.
Vinay M Tonse has held several significant positions in his career. Here are some of them:
- General Manager, Corporate Accounts Group, Branch BKC, Mumbai – November 2016 to June 2018
- Deputy General Manager, Equity & Commodities (Global Markets), Corporate Centre, Mumbai – June 2013 to November 2016
- Chief Executive Officer, SBI Osaka Branch, Japan – August 2009 to June 2013
Member of Faculty at the apex level State Bank Staff College at Hyderabad – Certified Behavioural Sciences Trainer - Moreover, Tonse has frequently been invited by leading management institutes to deliver speeches about management and leadership skills.
