Born on November 10, 1957 at Nasik in a middle-class family, Vinay had his schooling initially in Dhule, the native place of Sahasrabuddhes and later at Trimbak Vidya Mandir near Nasik and eventually at Nasik itself. While in Std 4, through a competitive examination, Vinay was selected for Govt Public School, Nasik (Shaskiya Vidya Niketan), an innovative chain of schools for grooming talented students from rural areas.
From Std 5 to Std 11, Vinay study at this residential school. It is there he learnt the initial lessons of leadership and creativity. His innate talent and skills in activities like public speaking, theatre, writing and journalism helped him shine in several school activities. He credits Dr B B Singam, who worked as Principal of his school for many years, and also Vasant Dongargaonkar, M M Nalnikar and other teachers for their contribution in his grooming.