Geojit Financial Services Ltd. appointed R. Bupathy its new chairman.

Bupathy is an independent director of the company.

In addition, the company's board recommended a final dividend of 1 Indian rupee per share, down from the prior-year's dividend of 2 rupees per share.

The dividend is subject to shareholder approval at the company's annual general meeting on Aug. 7. If approved, the dividend will be paid to shareholders within 20 days from the meeting.

As of May 30, US$1 was equivalent to 69.83 Indian rupees.