Rice (Oryza sativa) is the 2nd leading cereal crop and staple food of half of the world''s population. It is grown in at least 114 countries with global production of 645 million tons; share of Asian farmers is about 90% of the total produce. Rice is being processed in well established industry but the major apprehension is the utilization of its by-products; rice bran (5-8%) and polishing (2-3%) that are going as waste. The potential of producing rice bran at the global level is 29.3 million tons annually. In recent years, rice bran has been recognized as a potential source of edible oil (15-20%. Rice bran oil (RBO) holds unique nutritional profile and is of high nutraceutical worth. Recently, scientists have also shown tremendous interest in exploring its cholesterol lowering properties. The present work is an effort to highlight under-utilized by-product of rice industry for oil extraction and preparation of value added baked products. Moreover, the outcomes derived from present investigation will be supportive for the scientists, researchers and stakeholders for better understanding of the compositional, nutritional and nutraceutical role of rice bran.