In the year 1950, a proposal for establishing a Commerce college in Hindi medium was mooted by Raja Bankatlal Badruka and Sri Pannalal Pittie. Nawab Ali Yawar Jung Bahadurji, the then Vice-Chancellor of Osmania University appreciated the initiative and suggested that a college be started in English or Urdu medium with an endowment fund of Rs. 2.5 lakhs. Raja Bankatlalji, true to his character, spontaneously donated the amount and obtained the approval to start a college with Intermediate Section in English medium. The first exclusive institution for students of commerce came into existence on 2nd August 1950 and was inaugurated by the renowned celebrity Sri M. K. Vellodi, ICS, the then Chancellor of Osmania University.