Fermented foods and beverages are consumed from very early time and health benefits are associated with their use. The traditional fermented foods and beverages are rich repository of potential microbial diversity. Keeping in view this, in the present study nineteen native isolates (14 bacterial and 5 yeast) obtained from various traditional fermented foods and beverages of Himachal Pradesh. Except for isolate 2IIPcb_II all the 13 bacterial isolates produced bacteriocin and showed antibacterial activity against tested pathogenic bacteria. All the isolates were found to be tolerant to simulated gastric and intestinal juices as well as tolerant to ox-bile. The most efficient probiotic bacterial isolate 2IIIPcb_I showed 1.12 and 0.04 viability difference in the presence of gastric and intestinal juices, respectively. This isolate also showed high survivability (0.511) in the presence of Ox bile (0.3%) after 3 hrs of incubation. Out of 14 bacterial isolates only four isolates viz., 2IPcb_I, 2IIIPcb_I, 4Pcb_II and IIBcb_I showed bile salt deconjugation activity (glycocholic acid and taurocholic acid). Only 11 isolates showed adhesion to hydrocarbon and isolate 2IIIPcb_I showed 92.45% adhesion activity. All the tested bacterial isolates showed auto-aggregation property and most potential isolate 2IIIPcb_I showed 90.36% activity. On the basis of 16S rDNA sequencing the isolate 2IIIPcb_I was identified as Bacillus subtilis. Out of 5 isolated yeast strains, the isolate IBcy_II showed highest alcohol production (10%) as compared to other yeast strains. This most efficient alcohol producer IBcy_II was identified as Saccharomyces cerevisiae on the basis of sequencing of ITS region.