Fish is one of the popular health foods worldwide and has huge medicinal importance. Several traditional medical practitioners of Tripura claimed that bile content of fresh water fish may useful in diabetes. Therefore the present work was undertaken to evaluate antibacterial and antidiabetic activity the bile content of two major fresh water carps, Catla catla and Labeo rohita. Physicochemical characterization including stability study was also carried out for bile content. Moderate antibacterial activity was observed against two gram positive such as Bordetella pertusis, Staphylococcus aureus, and two gram negative like Eschericia coli and Vibrio cholerae bacterial strains. Oral and inraperitonial administration of fresh bile content of both fresh water carp possesses remarkable antidiabetic activity. Though mortality of animal is a major concern; mortality was less in case animal received diluted bile content. Though, further research is necessary for dose fixation and identification of active constituents.