The present study was conducted to assess the magnitude of genetic variability, heritability in broad sense and genetic advance among forty mungbean accessions for growth and grain yield characters. The study was conducted at SHUATS, Allahabad research field during kharif 2016. Randomized Complete Block Design with three replications was used for the experiment. Analysis of variance showed highly significant differences among 40 mungbean accessions for 12 quantitative characters studied. Maximum genotypic and phenotypic variance was recorded for harvest index, primary branches per plant, seed yield per plant, pods per plant. Maximum GCV and PCV were recorded for harvest index, biological yield/plant and seed yield/plant. High heritability was recorded for biological yield/plant, days to maturity, seed/pod, number of branches/plant and seed yield/plant. High heritability coupled with high genetic advance as percent of mean was recorded for biological yield/plant, branches per plant, number of pods per plant. The present findings could be useful for establishing selection criteria for high seed yield in the mungbean breeding.