Karmveer Bhaurao Patil Ignited by the goal of spreading the education among the masses so as to make them self dependent and self reverential established Rayat Shikshan Sanstha in 1919. The Rayat Shikshan Sanstha along with the people's co-operation started Balwant College in 1963 owing to which the higher education has been made available for hundreds of students residing in the town Vita and the area nearby it whose right of the college education was usurped by poverty and thus proved to be a great boon for them. The College has been named after the respected father of the greatest son of India. Late Yashwantrao Chavan, then Deputy Prime Minister of India and has been affiliated to Shivaji University, Kolhapur.
The aim of the college is to provide complete education. Hence in addition to the regular academic schedule, emphasis is given on an integrated development of critical ability, work ethics and personality building. This is with the expectation to prepare an individual to absorb the complex socio-economic and cultural environment and meet future challenges. Discipline is expected from every students seeking admission in this college.