Introduction: Blood Transfusions are used for various medical conditions to replace lost components of the blood. One may need a blood transfusion due to several reasons including blood lost during major surgery, childbirth, a severe accident and in severe cases of anemia. Since there is no substitute for blood and its products blood should be utilized thoughtfully and optimum utilization should be ensured. Methods: A retrospective study was carried out in a tertiary care hospital for a period of one month to study the utilization of the blood. The parameters studied included detailed study of the components of blood utilized and not utilized. Classification of blood components utilized was done age-wise, gender-wise and department-wise. Also, percentage of discard of blood components from blood bank as well from the components being returned was noted. Results: The total units of blood collected in the month of February & March were 853 and 791 units respectively. The components maximally utilized were leucocytes reduced red cell component. The component, which showed maximum wastage, was Random donor platelet. Maximum blood was utilized within the age group 41-64. Male patients required more of blood units than females. The reason for maximum wastage was found to be “Expired Sample”. The maximum return seen was of red blood cells. The average time taken for return was 113 minutes. Conclusion: This study implies the need for efficient blood banking so that blood components can be utilized resourcefully and minimal wastage can be ensured.