The Vidya Bhavan College of Commerce was started by Rt. Rev. Bishop Valerian D’Souza, with the collaboration of Founder Principal, Fr. Alfred Barretto in 1983 with a view to offer quality education to students.

Vidya Bhavan College of Commerce is a Christian Minority College managed by the Poona Diocesan Educational Society whose Chairman is Rt. Rev. Dr. Thomas Dabre, Bishop of Pune.  The Poona Diocesan Educational Society is committed to the spread of education, particularly at the basic primary and secondary levels.  It has established 9 High Schools, 5 Primary Schools and a senior college Vidya Bhavan College of Commerce, in keeping with its vision to provide value-based quality education.  The College was started in 1983 and is affiliated to the Savitribai Phule Pune University. The College was primarily set up to give an opportunity to socially disadvantaged students to acquire a degree that would open up their possibilities for securing gainful employment and thus progress in life.

Vidya Bhavan College of Commerce grew as a natural process from the Vidya Bhavan School and Junior College. When it started in July 1983 it was housed on the fourth floor at Model Colony, Pune, but was later transferred to the present premises at Bhairobanalla from the year 1993. Notwithstanding the paucity of funds, the college grew step by step under the able guidance of Dr. C. P. Rodrigues, the Principal for next twenty five years.

The Library expanded from a single shelf to what it is today, a modest yet adequately spacious area for students who wish to have a quiet place for study and refer to books and journals.  Space was also allocated to the gymkhana which was fitted with equipment and sports facilities little by little.  Eventually the Commerce Lab and Computer Lab were also set up and equipped with the necessary facilities. In 2004 the college undertook the Accreditation Process under the National Accreditation and Assessment Council of India and secured a B+ grade.

Though the college continues to grow with the number of students increasing every year, it has experienced rapid growth since its inception, indicating an unwavering commitment to the role of increasing knowledge and progress imbibed with human and moral values.  Today the college offers Post Graduate courses for Masters in Commerce as well as Diploma in Banking and Finance.