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| Type | Dailynewspaper |
|---|---|
| Format | Broadsheet |
| Owner | Business Standard Private Limited (Kotak Mahindra Bank)[1][2] |
| Founder | ABP Group[3] |
| Publisher | Business Standard Ltd |
| Editor | Shailesh Dobhal |
| Staff writers | 400+(August, 2020) |
| Founded | March 26, 1975; 50 years ago (1975-03-26) |
| Language | English Hindi |
| Headquarters | Nehru House 4, Bahadur Shah Zafar Marg New Delhi 110002 |
| Circulation | 189,000 |
| OCLC number | 496280002 |
| Website | www hindi |
| Free online archives | Yes |
Business Standard is an IndianEnglish-language daily editionnewspaper,[4] also available inHindi. Founded in 1975, the newspaper covers theIndian economy, infrastructure, international business and trade, information on financial quotations, corporate governance, and a range of other financial news, opinions and insights.[citation needed]
The main English-language edition comes from 12 regional centres:Mumbai,New Delhi,Kolkata,Bengaluru,Coimbatore,Chennai,Ahmedabad,Hyderabad,Chandigarh,Pune,Lucknow,Bhubaneswar, andKochi, and reaches readers in over 1,000 towns and cities across India.[5]
The newspaper's initial owner had been theKolkata-basedABP Group. Circulation was rising, but losses were rising, possibly to aboveRs 50crore, and ABP could not support it. ABP hoped that the government would allow theFinancial Times to take an equity stake in Business Standard Limited and bring in funds.[citation needed]
In 1997,Business Times was purchased by Kotak Mahindra Finance, in a deal led by nowKotak Mahindra Bank Managing Director and CEOUday Kotak. Kotak said in an interview in 2005 that BS was losing Rs 1.5 crore a month and ABP feared being bankrupted by the losses. Aveek and Arup Sarkar spun BS off into a separate company and approached Kotak as a potential buyer, fearing they needed to close down the paper. "I did a quick calculation. I believed that if I put Rs 20 crore into the paper, we could turn it around. The cost of acquisition was virtually zero. The Sarkars were so desperate that they were ready to give the paper up for nothing. I can’t remember how much we paid but it was only a crore or so. Kotak Mahindra was flush with funds – some from the Goldman Sachs JV – so it seemed like a risk worth taking," he said.[6]
The paper remained India's second-largest business daily in terms of circulation for years, until in 2017, when its ranking sank. In January 2019, it was judged by theIndian Readership Survey (IRS) to be the fourth largest financial newspaper (with an average annual readership of 107,000 copies) and third largest selling financial newspaper (with a total readership of 505,000).[7]
In January 2020, the paper had recovered some ground. The IRS 2019Q4 survey found the newspaper gained 45,000 readers over the final quarter of 2019 to hit an average issue readership of 189,000 copies. It is the third-highest selling financial newspaper in India, behindThe Economic Times andMint.[8]
Financial journalist T. N. Ninan was the editor from 1993 to 2009. In January 2010, Ninan becamechairman and editorial director of Business Standard Ltd and was succeeded as editor ofBusiness Standard by DrSanjaya Baru, who was formerly media advisor to Prime MinisterManmohan Singh. Long-term Business Standard editorial staff Ashok K Bhattacharya took charge of the paper after Baru quit to join a UK-based think tank in 2011.[9] The current editor is Shailesh Dobhal.[citation needed]
While exact figures are not known, more than 100 business journalists are currently employed with the publication. After the onset of theCOVID-19 pandemic in India, the newspaper fired almost 100 employees, almost half of whom were editorial staff.[10][11]
The offices with the largest editorial teams are inDelhi, which mostly covers government policy news andMumbai, mostly dedicated to corporate, financial and share market news. Other offices with reporting bureaus are present inKolkata,Bangalore, andAhmedabad. The newspaper had few reporters in other major cities such asChennai andBhubaneswar, and their numbers have been continuously reduced since 2016. Reporters based out ofLucknow,Chandigarh andHyderabad were let go.[citation needed]
{{cite web}}: CS1 maint: bot: original URL status unknown (link)March 2, 2016 The Daily Pao