[1] Deccan Education Society, Pune was established in 1884 and registered on 13th August 1885 and by four patriotic visionaries- Vishnu Shastri Chiplunkar, Bal Gangadhar Tilak, Gopal Ganesh Agarkar and Mahadeo Ballal Namjoshi- who were already recognized as the pioneers of new education in India with the Launch of New English School in Pune in the year 1880.

The naming ceremony was performed by Sir Chintamanrao Deshmukh, Governor of the Reserve Bank of India, on 11 November 1944.

BMCC celebrated its fiftieth anniversary in 1993–94 by opening an academic project, the Chandrashekhar Govind Agashe Business Motivation, Training and Research Centre (CGA BMTRC).

In 2005, the college celebrated its Diamond Jubilee with Indian Prime Minister Manmohan Singh as the chief guest.

The 'Principal D. G. Karve Chair in Commerce & Economics', an academic research position, was launched to mark the occasion.