Maharani Laxmi Bai Govt. College of Excellence, Gwalior is one of the most prestigious Educational Institution of Northern India. Over a century old history of this great institution marks the various stages of its development and spread of higher education in Gwalior. The rulers of erstwhile Scindia state rendered a yeoman’s service by establishing this college in 1846 as “Lashkar Madarsa”. It was renamed in 1887 as “Victoria College” to mark the celebrations of Golden Jubilee of Queen Victoria. In 1957 its name was changed to “Maharani Laxmi Bai Arts and Commerce College” in the memory of that great, valiant and immortal freedom fighter, the Maharani Laxmi Bai of Jhansi who laid down her life on the sacred soil of Gwalior. In the year 1961, the Science departments were separated from this college and it was named as Maharani Laxmi Bai Arts & Commerce College.
The foundation stone of its magnificent building was laid on 16.07.1887. The building was completed in 1899 and was inaugurated by the then Viceroy of India, Lord Curzon, on 30th November 1899.