To position the youth to reap the benefits of the rapidly changing economic environment and the growing industrialization, the need for making available quality management education was felt by Dr. Jagannath Mishra as early as in the year 1973. L.N.Mishra College of Business Management was established by the Lalit Narayan Mishra College of Business Management, Muzaffarpur (a society  registered under the Societies Registration Act, 1860 and headed by Dr. Jagannath Mishra) to accomplish  the shared  vision of Late  Lalit Narayan Mishra, the former Union Minister of Railway, Government of India.

The College was inaugurated on February 11, 1974 by His Excellency Shri R.D.Bhandare, the then Governor of Bihar.  Keeping in view the excellent performance of the College in all aspects, the State Government conferred the College an ‘autonomous’ status in the year 1985 on the recommendations of the parent University.  Consequent upon being granted the ‘autonomous status’ under Article 73 of Bihar Universities Act 1976  for the general and financial administration of the College an empowered  Committee  was also  set up.  This Committee was subsumed in the Governing Body of the Lalit Narayan Mishra College of Business Management, Muzaffarpur (the Society).  The Director of the College functions as the CEO (Chief Executive Officer) of the College.  However, the Teachers’ Education Programme, is headed by Principal, Teacher’s Education Programme. To redress the grievances of students and staff a ‘Grievance Redressal Committee’ headed by the Director and having representatives of students and staff, has also been formed.

The College always looked ahead for development activities and focused on achieving its objectives.  In the year 1994, the College got the approval for conducting Two Years Full Time MBA with intake capacity of 120 students each by the apex body- All India Council for Technical Education (AICTE), New Delhi.  In the year 2002 the College got the permission from AICTE, New Delhi and State Government to start MCA Course at its campus on the recommendation of the parent University.  In 2003, the State Government on the recommendation of B.B.A.  Bihar University, granted permission to start BBA and BCA courses at its campus.

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