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Twenty one crosses resulting from 7 × 7 diallel excluding reciprocal were studied to know the magnitude of heterosis over better parent and standard variety for yield and its attributing characters in rabi mungbean. The highest heterosis to the extent of 37.23% over the check Co-4 and 82.20% over the check GBM-1 was observed in cross combination Co-4 × Meha for seed yield per plant, which also exhibited high heterosis percentage for yield and yield components. The promising hybrids viz. Co-4 × Meha, Co-4 × GBM-1, GBM-1 × Meha and Rm-9-129 × Co-4 were identified which have great potential to exploit the hybrid vigour or to isolate the desirable segregants for the development of rabi mungbean varieties with chilling tolerant ability or photo-thermo insensitivity, so as to exploit potential of rabi mungbean in heavy rainfall zone as rice fallows. [ABSTRACT FROM AUTHOR]