Kobotoolbox docker psql permission issue

I am installing kobotoolbox on my local machine using docker. I am using docker-compose.local.yml file. The docker pull command successfully downloaded all the images. But then after executing the docker-compose up I receive below log which says that the “psql exited with code 1”.

psql_1 | initdb: could not create directory “/srv/db/pg_xlog”: Permission denied
redis_cache_1 | |-._-._ -.__.-' _.-'_.-'| redis_cache_1 | |-.-._ _.-'_.-' | psql_1 | initdb: removing contents of data directory "/srv/db" mongo_1 | 2016-05-31T10:45:30.798+0000 [initandlisten] allocator: tcmalloc rabbit_1 | May 31 10:45:30 rabbit syslog-ng[15]: syslog-ng starting up; version='3.5.3' redis_cache_1 |-. -._-.__.-’_.-’ _.-’
psql_1 | *** /etc/my_init.d/init_postgres.bash failed with status 1
psql_1 |
psql_1 | *** Killing all processes…
kobodocker_psql_1 exited with code 1

I even tried to the permission of the pg_xlog folder but this did not worked.