Amul Managing Director RS Sodhi has been appointed as independent director on the board of India Post Payment Banks (IPPB)
The board will have four in-house representatives.
IPPB came into existence after it received certificate of incorporation from the Registrar of Companies on August 17.
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.