The present investigation was carried out in the segregating population of two rice cross combinations viz., Swarna x Ranbir basmati and Swarna x BR2655. The results revealed that the appreciable genetic variability for grain iron and zinc content along with other biometrical traits. Moderate to high variability was observed for grains per panicle, grain length, L/B ratio, in Cross 1 and Cross 2 for plant height, grains per panicle, in F3 generation. Hence, these traits need one or more generations in order to attain homozygosity. The existence of comparatively moderate variability for these traits, which could be exploited for improvement of the traits through selection in advanced generations. The high genotypic and phenotypic coefficient of variability were observed for panicle weight, grain yield kg per ha, in Cross 1 (Swarna x Ranbir basmati) and Cross 2 (Swarna x BR2655) for number of panicles per plant, panicle weight, grain yield. It indicates high variability among the lines. High heritability coupled with high genetic advance as per cent of mean were recorded for plant height, number of panicle per plant, panicle weight, number of grains per panicle, L/B ratio, grain yield kg per ha in Cross 1 (Swarna x Ranbir basmati) and Cross 2 (Swarna x BR2655) for number of panicle per plant, panicle weight, number of grains per panicle, grain yield kg per ha. This indicates scope of selection in the population, since there is a wide range of variation and additive gene action.