The Deccan College, Post-Graduate and Research Institute, Pune is the third oldest Educational Institute in India. The Hindoo College was started on 6th October, 1821 by the Bombay Presidency Government at the initiative of its Governor, Mountstuart Elphinstone by using the Dakshina Fund, which was started by Khanderao Dabhade, a Maratha Sardar and continued by the Peshwas for propagating Sanskrit studies.
The college started functioning on the new campus on 23 March 1868. At this stage, it was renamed as Deccan College in recognition of the enrollment of students from the entire Deccan region.
Until 1881, Deccan College was staffed by four professors, one acting as principal. Another of the four, the professor of Oriental languages, supervised five traditional Sanskrit shastris and an expert in Zend Pahlevi in an extensive program of research and text publication, in addition to his teaching duties. Student enrollment rose to a peak of 210 in 1885. William Wordsworth (grandson of the poet William Wordsworth) and E.A. Wodehouse (brother of P.G. Wodehouse) were principals of the college during 1862-74 and 1934-39 respectively.