In soil, microorganisms participate in diverse processes such as C, N, P and S conversion, breakdown of xenobiotic organic compounds, soil structure development and plant nutrient uptake intensification. Plant growth promoting rhizobacteria (PGPR) serve as biofertilizer in both direct and indirect ways. In this study, two potassium solubilizing bacteria strains designated as AKY2 and HPY10 were isolated from rhizospheric soil. The bacterial isolate HPY10 was characterized as Serratia marcescens by using 16s rRNA sequencing. The potassium solubilisation index of strain HPY10 was 3.2. The potassium released by isolates AKY2 and HPY10 was 7.29 and 8.66 mg/L after 10 days of incubation respectively. Both isolates were showing different plant growth promoting activity. The present study, suggests use of isolates AKY2 and HPY10 as biofertilizers which is beneficial for crop cultivation by enhancing growth and yield due to the production of phosphate solubilization, IAA (indole-3-acetic acid) and also having antagonistic potential against Fusarium oxysporum.