A thesis submitted to the University of Mumbai for the Ph.D.(Science) degree in Physics under the guidance of Prof. Nathani Basavaiah.Conclusion summarized under topics : Structural and Anisotropy of Magnetic Susceptibility (AMS) evidence for oblique impact at Lonar, Distribution of impact-induced stress with the direction of Lonar impact, Rock magnetic study of Lonar basalts, Rock magnetic study of Ramgarh magnetic particles, Palaeomagnetic study of Lonar basalts, Rock- and Palaeo-magnetic study of randomly oriented ejecta blocks from Lonar, Geochemistry of rocks from Lonar and Ramgarh crater IMPACT CRATERING RESEARCH IN INDIA AND FUTURE DIRECTIONS This study provides invaluable data in the investigation of natural impact craters in India; it suggests that Lonar and Ramgarh samples provide new data to study the magnetic field phenomena associated with the impact craters. From the investigation of magnetic study, it is inferred that a relationship exists between an oblique impact from the east at Lonar and geological structural variations around the crater rim. This work provides a useful tool in understanding the obliquity of impacts for small craters of terrestrial and extraterrestrial examples. Additionally, this work draws our attention on impact cratering research for searching new craters in the Indian shield. Incidentally, Radhakrishna (2005) proposed to reexamine circular to semi-circular morphology from impact cratering research view point in different parts of India: (i) the Cuddapah basin, (ii) the tectonic group of islands off the coast of Mumbai, and the islands of Saurashtra and Kachchh, (iii) the regions of Malani, and (iv) Simlipal complex, Odisha. The reported magnetization mechanism of shocked and unshocked basalts as a method of characterizing samples helped in advancement of knowledge in the field of impact cratering in order to understand the shock-induced magnetization effects on target lithologies and to investigate their structural deformation, emplacement mode and post-impact alterations. Initial rock magnetic and palaeomagnetic data of Ramgarh structure partly confirmed its origin by asteroid impact; it suggests that the Ramgarh impact crater is only weakly magnetic. This kind of geophysical magnetic investigation can be extended further to explore the Dhala and Luna impact crater structures in the Indian subcontinent. In such investigations, the present work is expected to be an initial platform to furtherance of a multi-disciplinary application to impact cratering processes using both magnetic and advanced techniques such as Fourier Transform Infrared (FTIR) spectroscopy, XRD, scanning electron microscope (SEM) and geochemical analysis. It is hoped that the impact cratering research will become popular among geoscientists in India, so that adequate trained manpower will be available for future space missions to the Moon and Mars.