Stem Cell technology is a rapidly developing field that combines the efforts of Cell biologists, geneticists and medical practitioners, offers effective treatment for a variety of malignant and non-malignant diseases because their stimulation can be accelerated to develop into any type of cell or tissue or organ system. The Article studies the latest development in medical sciences is the use of Stem Cell therapy. There are serious ethical and religious questions involved in the use of embryo Cells as it could be considered as feticide because of the belief that life begins at conception. So the next best thing to go with the research of umbilical cord blood. Scientists believe that several incurable diseases can be treated and even cured by Stem Cell therapy. For this purpose, Stem cell banks have been set up in big cities like Chennai and Mumbai In these banks Stem Cells of newborn babies will be preserved for twenty years or more in liquid nitrogen. Rich Indians have accepted Stem Cell therapy as a health insurance cover for their progeny. Medical experts and Stem Cell banks claim that stored stem cells can cure Seventy life-threatening diseases including diabetics, leukaemia, blood cancer, and Alzheimer__ampersandsignrsquo;s diseases. As Civilization progressed, the man had to fight against diseases caused by both external and internal agents. So he had to invent and prepare curative and preventive medicines by using intellectual mind performing through Researches.