Microbial diversity is considered as one of the most useful resources for bioprospecting. Genetic diversity of bacteria is being analyzed increasingly by PCR-based genomic fingerprinting methods. As more knowledge is acquired and isolates from unexplored environment such as soyabean rhizosphere are studied, new species are discovered and former species are split. Since then, this technique has been utilized extensively by various workers and several novel species have been reported during the last decade. The present study has been planed keeping in mind the importance of rhizobacterial isolates in plant growth promotion of soybean. The study of rhizobacteria from important plant of human consumption, i.e., soybean by using phenotypic and molecular tools would be useful for identification of potent functional rhizobacterial isolates. These rhizobacterial isolates would be use as a biocontrol of most important pathogen of host plant. By evaluation of plant growth promoting activity and biocontrolling properties and these efforts will make for search of potent bioagent to exploit it as biofertilizer and biocontrolling agent.