Synthesis of metal nanoparticles from the metal salts by reduction with plant extracts in water, without any additional stabilizing or capping agents is a green and eco-friendly method. In the present work, aqueous extract of the bark of Terminalia arjuna was utilized to synthesize T. arjuna-conjugated palladium nanoparticles (TA-PdNPs) from palladium chloride. The dark brown colour indicating the formation of TA-PdNPs appeared within 3 h without heating but, on heating colour appeared almost instantly. The synthesized TA-PdNPs are characterized by UV spectroscopy, HRTEM and XRD studies. The TA-PdNPs were utilized as efficient catalyst for Heck and Suzuki type CC coupling reactions and degradation of organic dyes in aqueous medium at room temperature.