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Madhav Thombare has worked at DCB Bank as a Senior Manager from November 2014 to November 2022. Madhav then joined DCB Bank as the Product Sales Head- Mortgages in April 2021 and is currently in that role. In May 2023, Madhav Thombare briefly worked as the Product Head- Retail Agri (KCC) at DCB Bank. Earlier in their career, they worked at Kotak Mahindra Bank as an Executive-Tractor Finance from May 2005 to December 2008.

Madhav Thombare completed their B.Tech (Agril Engg) from MPKV Rahuri in Ahmednagar, Maharashtra, from 2001 to 2005. Later, they pursued a Master of Business Administration (MBA) with a specialization in Marketing/Marketing Management, General from IBMR in Chichwad, Pune, from 2007 to 2009.