R.A. Podar College of Commerce & Economics, Mumbai has had a long history, which commenced with the freedom struggle of India. The visionaries of that time realized that they should start an institution which would inculcate the indigenous values and have the thrust of social and cultural value system that are typical to the grand heritage of our country.

In August 1940, the trust known as 'Shikshana Prasaraka Mandali', Pune, made an application to the Bombay University for permission to start a Commerce College. The Industrialist and Philanthropist and a visionary, Seth Ramdeoji Anandilal Podar was deeply interested in the cause of education. He wished to build an institution in the memory of his brother Ramniranjan Anandialal Podar who had died at a young age. At the cost of Rs.1,50,000/- he constructed the building that houses the college today, and gifted it to the S.P. Mandali on the 7th of February 1941. 

The Senate of Bombay University granted permission to start the College initially for a period of two years, with 150 students on its rolls. The College building with its famed clock tower was handed over by Seth Ramdeoji Anandilal Podar to the S.P. Mandali. Barrister M.R. Jayankar inaugurated the college building formally. The college was named "Ramniranjan Anandilal Podar College of Commerce". The Mandali has been rendering notable service under its motto of unflinchingly carrying out the mission undertaken and has kept up its well- defined objectives. The objectives in regard to Commerce education has been to extend popular and reasonably affordable higher education in Maharashtra and to develop an institution that would impart appropriate education both in Commerce and Economics.

The institution first started the B. Com. Degree course in 1942 and the word Economics was added to the name of the College. It has now become 'Ramniranjan Anandilal Podar College of Commerce and Economics'. The College received permanent affiliation from the University of Mumbai on 17th August, 1950.