The main objectives of the Deccan College Past Student's Associations are as follows:
- Playing a constructive role in the development of the Institute/University.
- Support the administration and give academic and other guidance from time to time.
- Provide academic inputs by conducting special lectures and guiding the young students in their academic endeavours.
- Encouraging social gatherings of past students to share ideas and experience.
- Institution in 2012 of a special annual award in the name of Sir RamkrishnaGopalBhandarkar Cash Prize to be given to the student scoring the highest percentage of marks in MA Examination of the University.