The Co-Operative Arts & Science College, Madayi started functioning in the academic year 1982-83 with two batchs of Pre-degree course. The College was upgraded during the year 1991-92 and became Post Graduate College during 1995-96. Now the College offers institution in 5 degree (B.A./BSc/Bcom) courses and one Post Graduate (MA History) course.

During 1996 the College included in the list of the College under section 2(f) and 12(B) of the UGC act and enjoying assistances from the University Grants Commission under various schemes.