Plants are constantly confronted with environmental constraints of both biotic and abiotic origin. In particular, drought is considered as one of the most acute environmental stress presently affecting agriculture. Several adaptations and mitigation strategies are required to cope with drought stress. Plant growth promoting rhizobacteria (PGPR) could play a significant role in alleviation of drought stress in plants. Present study was conducted to determine the effect of PGPM like Pseudomonas and Mycorrhizal fungi in alleviating the drought stress in black gram crop. Totally fourty rhizospheric soil samples and ten rhizospheric root samples of black gram were collected from different districts of Hyderabad Karnataka region. And these fourty isolates were grown on King’s B medium and Tryptic Soy Broth (TSB) with different water potential. Among the 40 isolates, 12 isolates could grow under maximum water stress condition and these 12 isolates were screened for drought beneficial traits like IAA, ACC- deaminase activity, and proline production. Among 12 isolates the isolate PSB-38 showed maximum IAA production of 18.90 μg /50ml medium, 5.27 μmol/mg of ACC deaminase activity and osmolytic proline of about 101.18 μmol/mg of fresh weight of cell. And fungal isolate MYCK-7 showed highest per cent root colonization and spore count. These two isolates were selected for pot culture experiment with 12 treatments and 3 replications. Out of 12 treatments, T12 (PSB-38+MYCK-7 + 75 % RDF) significantly enhanced the growth and yield of black gram even under moisture stress condition as compare to the other treatments and uninoculated control. The present investigation showed significant increase in the growth and yield of the black gram crop inoculated with PGPM isolates with 75 (%) of the recommended dose of fertilizer under moisture stress condition.