Abstract-Reversible logic is one of the basis of future computing system that promises zero energy dissipation. It has applications in various fields such as Low power VLSI, Fault tolerant designs, quantum computing, nanotechnology, DN A computing, optical computing, cryptography and informatics. To make reversible logic circuits reliable, they must incorporate fault tolerance attribute. In this paper, we propose a new parity preserving reversible logic gate. We have proposed two optimized design of a self checking two rail checker circuit based on proposed parity preserving reversible logic gate in terms of number of gates and critical path delay. The proposed design achieves less critical delay and gates compared to the existing designs available in literature. Index Terms-Critical delay, fault tolerant, paritypreserving reversible gates, two rail checker.