In early 40s, Asansol was important industrially due to its coal reserved (Raniganj – Asansol Belt), The Indian Iron and Steel Company, The East-Indian Railway, but was backward in the field
of higher education. However some schools of repute was established in and around Asansol during 1910 – 1943.
The first proposal for opening a College at Asansol was placed by a tall young man on a day in February, 1944 to the then Chairman of Asansol Municipality Mr. Jogendranath Roy and S.D.O. Mr. Woodford I.C.S. In this Noble venture he was accompanied by some eminent teachers, Businessman, Doctors, Pleaders, Zamindars of the locality and some political leaders of that time; in short the proposal came from all sections of public who donated generously for establishment of a higher study centre to the young man none other than the first man in the college Prof. Satyakali Mukherjee. Mr. G.S. Atwal, a leading businessman constructed a tiled building and the Asansol College was given birth in 16th July, 1944 at the tiled rented house at Atwal Nagar and was affiliated to The University of Calcutta to start I.A. classes from 1944 – 1945 with a student strength of only 132 including those of night section. The college was at Atwal Nagar (Now Budha Nagar, Asansol) till 1960, it was the extreme effort of the then staff of Asansol Municipality, St. Patrick School, M/s. A.N. Banerjee and Co. Electric supply company, Late B.N. Nag, Late G.J. Pandit, Mrs. P.S. Jivraj, Joy Engineering Works, Bhrighu Prasad, G.S. Kedia, Mantu Mazumdar, N.L. Jallan, Subhas Institute, Eastern Railway School, Eastern Railway Authorities, Natyabharati, Rotary Club, Pleaders and Muktiars Bar, Mines Board of Health, Dr. L. Sen, A.K. Raha, Dr. A.C. Lahiri, Kumar P. N. Maliah, U.N. Mondal and S.D.O. Mr. J.C. Sengupta, Late Banwarilal Bhalotia, a freedom fighter, Social worker and aspirant businessman of that era, who was introduced to this noble job by Late Shivdas Ghatak and the then Chief Minister of West Bengal, Dr. B.C. Roy – the continuous efforts of all sections of the locality aided by the magnanimous donation from Sri. Bhalotia, it was possible to start the present main building with an acquired land of 20 Bighas. The foundation stone was laid by Dr. B.C. Roy, and the building was opened for the students by Sri. S.K. Guha, the then Vice – Chancellor of The University of Burdwan and the Asansol College was renamed as Banwarilal Bhalotia College or B.B. College.