R S Sodhi
R S Sodhi, the Managing Director of Amul, has been appointed as the new independent director on the board of India Post Payment Banks (IPPB), the payments bank arm of postal department. He is one of the 5 independent members to be appointed on the board, which is set to be operational in March 2017. The payments bank allows mobile firms, supermarket chains and others to cater to banking requirements of individuals and small businesses. It will be set up as a differentiated bank and will confine its activities to acceptance of demand deposits, remittance services, Internet banking and other specified services.