Thirty-eight rice germplasm accessions were evaluated for 12 traits to assess the genetic variability, heritability and character association for grain yield with yield attributing traits. The analysis of variance revealed highly significant difference among the germplasm accessions for the traits studied indicating that a large amount of variability was present in a set of material. The magnitude of phenotypic coefficient of variation was higher to corresponding genotypic coefficient of variation for all the traits. The highest value of phenotypic and genotypic coefficient of variation was observed for total grains per panicle followed by grain yield per plot and test weight. High heritability associated with high genetic advance as per cent of mean was found in the traits test weight and grain yield per plot. The genotypic correlation coefficient was found to be higher than phenotypic correlation coefficient indicating a strong inherent association for grain yield per plot and other traits. Days to 50% flowering, days to maturity, total number of tillers per plant, total grains per panicle, spikelet fertility and biological yield per plot showed strong positive and significant association with grain yield per plot both at genotypic and phenotypic levels. Therefore, selection based on these traits will be effective in improving the grain yield in rice under rainfed conditions.