50000 to .5 lakhs in postgres query : Select * from employee;

ID	name	   salary

1	karthi	    30000

2	Thushara	70000

3	Divya	    150000

How to convert like this

ID	name	   salary
1	karthi	    0.3 lakhs

2	Thushara	0.7 lakhs

3	Divya	    1.5 lakhs
