The blaze erupted in a building housing a branch of Punjab National Bank on Court Road in the wee hours and soon engulfed another adjoining commercial building, the officials said.
They said the Fire and Emergency Services department swung into action immediately and could only control the flames after a long, intense fire fighting operation.
Twenty shops, branches of Punjab National Bank and Vijaya Bank and a post office were damaged in the blaze, the officials said.
However, there was no report of loss of life or injury to anyone in the incident.