The nature and magnitude of variability and genetic divergence were estimated in 64 rice genotypes by considering 10 traits under controlled condition (PVC pipes). Analysis of variance found to be significant for all the characters under both in control and low-moisture stress condition. The higher magnitude of PCV and GCV was recorded for traits like root length, root number, root volume, dry root weight and grain yield indicates the presence of considerable degree of variability. High heritability coupled with high genetic advance as per cent mean was registered for root length, root number, root volume, dry root weight and grain yield suggested preponderance of additive gene action in the expression of these characters. Based on D2 values, 64 genotypes were grouped into 12 clusters in control and 13 clusters in low-moisture stress indicates that genotypes under study were genetically diverse. The maximum inter-cluster D2 value of 34.78 between cluster II and cluster VIII under control condition, whereas 42.45 between cluster V and cluster XI under low-moisture stress condition indicated wider genetic diversity among the genotypes between these groups. Cluster IV with overall score of 112.5 in control and 98 in low-moisture stress condition across the 10 characters received highest rank, indicating the presence of most promising genotypes in this clusters. Among the traits studied, grain yield contributed maximum to divergence in both contrasting moisture regimes, hence importance has to be given for this during selection. In all the studied genotypes, Azucena, SKAU-98, Bangaradagundu, Kougisaale, Navalaisaale, Mukkanna, Sampige and Doddiga could be utilized for further breeding programmes to obtain suitable varieties for drought.