Stem cell technology is the breakthrough in Medical science. It seems to be the solution for all the human diseases and has the potential to change the way we live. Fatal diseases will cease to be fatal anymore with this innovation in medical science. Considering its promising endowment many countries have adopted Stem Cell Banking and Medical research and curative studies are growing in this area. This paper explores the pregnant women’s awareness and acceptance of cord blood stem cells in Mumbai region. It is an empirical study to understand the association between the ‘Awareness and Acceptance of Stem Cell Banking’ and the demographic profile of the expecting mothers, the effect of the environmental factors such as Gynecologist initiative, promotional activities of Stem Cell Banks, cost associated with storage, and attitude towards preventive health care. Methodology adopted-Questionnaire was administered among the expecting mothers in Mumbai region and Bi-variate statistical analysis, cross tabulation, chi-square data analysis tool were adopted to understand the association among the variables defined. The authors have done a substantial literature review of recent news articles and papers publications to understand the stem cell technology and its benefits. This paper highlights future scope of research that can be carried out in this area with reference to practical application so that our Government can reap the benefits of this innovation in medical science for the citizens of our country.