India is well known for being the cradle of some great religions of the world. In the history of religions, one could say emphatically that India has always been a fertile ground for a meaningful exchange of ideas between various faiths. In this age of technological advancement, man has lost his inner equilibrium, though he has the satisfaction of fulfilment of some of his unending number of desires. Being in the rat-race of acquiring more and more wealth, the service of humanity has been replaced by seizure by force, and love for one's nears and dears has got converted into hatred and jealously. Most of the diseases are psychosomatic because they are the outcome of the mental obsessions and egotism inculcated by man to make himself the centre of all the activities on earth, be they are social, religious or political. In fact the nature and role of religion has been misunderstood by the people and bereft of moral values, religion today has been converted into a mercantile commodity. The results are obvious. The spiritual and temporal crises, which could be overcome with tolerance, understanding, dialogue and mutual trust have now not remained as the integral part of human psyche. Religion was a constructive force, but the narrow political goals have disfigured the religious feelings of the people all over the world. To live together and to adjust ourselves to new social environment, man has to learn the real meaning of religion which in fact is devoid of all hypocrisies and verbal jargons. Re-assessment and re-interpretation of religion in a multifaceted society is the need of the day, and in order to do so one has to call for adjustments with new values without repudiating the old values as the basis and with the forces of modernity and internationally accepted norms without giving up the basics of one's own culture and ethos.