It is dedicated to promoting quality education in all branches of learning and inculcating an intellectual culture among students, resulting in a holistic personality. The University of Mysore, which was the first university in the erstwhile State of Mysore, permitted private managements to commence colleges in undergraduate studies.

Veerashaiva Education society was one of the first to commence an intermediate college in the private sector. This was possible because of the generosity of a philanthropist, a member of the Veerashaiva Education Society, Shroff B. Basappa and therefore the society named the new college as Basappa Intermediate College.

The college was upgraded in 1955 to a first-grade college. This was possible because the land, housing the present college building belonging to His Holiness, the Jagadguru of Sri Rambapuri Peeta, was gifted by His Holiness to the society. Then the name of the society was changed to Sri Jagadguru Renukacharya Education Society and the Basappa Intermediate College to Sri Jagadguru Renukacharya College of Science, Arts, and Commerce. With its humble beginning, the college has metamorphosized into a colossal entity acquiring social accreditation, that it could serve 70 glorious years and poised to go many more miles.