The Deccan College in Pune is the third oldest educational institution in the country. Stretching back to the Dakshina Fund started by Khanderao Dabhade, a Maratha Sardar and continued by the Peshwas for propagating learning, the Dakshina Fund was given the status of an institution named as the Hindoo College on 6th October 1821 (Vijayadasami day) by Mountstuart Elephantine, the enlightened Governor of Bombay Presidency. An English school was added to the College in 1842 and on 7th June 1851 the English school was merged with the Hindoo College to form the Poona College. From its original location in Vishrambaug Wada and later in Wanowri, the Poona College was shifted to its present large campus near Yerawada. The land for the campus was donated by the Bombay Government and the Foundation stone of the main Building was laid on 15th October 1864. At this stage the College was renamed as Deccan College in recognition of the enrolment of students from the entire Deccan region.
The Impressive main building of the Deccan College was built in Neo-Gothic style from a munificent donation of one lakh rupees given by the renowned philanthropist Sir Jamsetjee Jejeebhoy, the Second Baronet. The College started functioning on the new campus on 23rd March 1868. This Institute has emerged as a foremost center in the world of higher learning and research. It has produced a galaxy of students who rose to positions of excellence in various walks of life. They include Sir R.G. Bhandarkar, the celebrated Indologist, Lokmanya Bal Gangadhar Tilak, the great nationalist leader, Gurudev R.D. Ranade, the eminent philosopher, G.G. Agarkar, the great social reformer, V.K. Rajawade, the famous historian and Dr. Dwarkanath Kotnis, the famous Indian medical practitioner who rendered yeoman service in China.