Higher education in Commerce was first introduced in Orissa at G.M. College, Sambalpur and Rajendra College, Balangir in 1944. It was introduced in Khallikote College in year 1955. There was a public demand for opening of Commerce Stream in Ravenshaw College, Cuttack, and the Govt. of Orissa introduced I.Com classes in Ravenshaw College in 1957. Sri P.C. Ray and Sri R.K. Jena joined as lecturer and classes in Commerce started in the Arts Block. As Cuttack was the centre of all business activities, Commerce education gained popularity and the government of Odisha backed by strong public demand opened B.Com. classes in Ravenshaw College in 1959. More teachers were posed in Ravenshaw College and the course continued successfully till 1969, when Honours courses were introduced with 16 seats.