Book excerpt: Fungi and microbes have predominant influence in our lives. They are directly or indirectly involved in generating the food we eat and drink, besides providing life saving pharmaceutical products, including the sources of enzymes. They play a vital role in recycling of organic matter and several ecological processes. Both fungi and microbes have contributed several billion dollars worth of technological products. For instance: yeast is used in brewing and bakery, Lactobacillus ferments milk to yoghurt and a number of edible mushrooms are rich in nutrients besides possessing many medicinal properties. Bacteria and fungi serve as key organisms in understanding life processes, genetic engineering and as experimental organisms. Therefore, it is necessary to study the biology and biotechnology of these organisms. It is a humble attempt of the authors to make the readers understand the biology and biotechnology of fungi and microbes in a simpler way and also to communicate the recent developments.