The Department of Commerce was created in the year 1944 and it started its teaching work in collaboration with the Economics Department of the college and finally shifted to the Faculty of Commerce Building in the year 1950. Since 1950 this faculty is functioning as an independent unit for undergraduate, postgraduate and research.
This faculty has been headed by eminent Professor Late Prof N K Chaddha. He was the founder Head of this faculty. After that, Dr R N Bhatnagar (a growth economist), Prof H H P Nigam, Dr S P Gupta, a management and accounts guru, Dr N L Sharma, a management Guru, Dr Raj Kumar, Dr I C Kashyap, Dr P C Gupta and Dr A K Saxena serve as In Charge respectively. At present, Dr P K Agarwal is the In Charge of the faculty.