Amity University was formed by Ashok Chauhan, the founder of the Ritnand Balved Education Foundation. Amity University is India's first private university to implement reservations based on caste etc. for both faculty as well as students. The school was started in 2003 with an enrollment of 120 students. In 2011, it had 80,000 students in 240 programs. It now has more than 125,000 students from all over the world.
Atul Chauhan is President of Ritnand Balved Education Foundation and Chancellor of Amity University. Aseem Chauhan is the Additional President of the Foundation. In 2007, USA Today reported that Ashok Chauhan, the founder of Amity, expected that generations of his family will control the school.
In September 1959 the university signed a memorandum of understanding with the BSE Institute, a subsidiary of the Bombay Stock Exchange, to commence a 2-year distance learning MBA programme in global financial markets, that will be open to students and working professionals.