Jamshedpur Co-operative College is a symbol of the painstaking efforts of Late M. D. Madan. The college was founded at a time when Jamshedpur had already become a hub of industrial network with a large population of workers and professionals but with no college where the children of the society could get the benefit of higher education.
As the name suggests this college is a unique college of its kind in the country. It was started initially in the form of a morning tutorial college, on September 1, 1949, with 12 girl students and 6 teachers. In a short span, the Jamshedpur Educational and Cultural Co-operative Society Limited was formed in 1953 and the morning tutorial college was made a part of this society. In 1954 the Bihar University granted it affiliation up to degree level in Arts and Commerce and the morning tutorial college was rechristened Jamshedpur Co-operative College. The Ranchi University came into existence in 1960 and the college was affiliated to the newly born university. In the same year the college was granted permission by the university to start B.Sc. in Physics, Chemistry and Mathematics. Later other courses were started with the permission of the university at different stages. In 1976 the college became a constituent unit of the Ranchi University.
The morning tutorial college was run in the building of Mrs. KMPM HIGH SCHOOL. Late M. D. Madan, under the auspices of the Jamshedpur Educational and Cultural Co-operative Society Limited, raised fund for the building of the college. Different credit societies of TISCO came forward and TISCO donated 35 acres of land to the cultural society on a very nominal rent and also donated a good sum of money and with the help of various other sources the building of the college was finally ready in 1960. The number of students swelled from 12 to 1500 and teachers from 6 to 60.