A fluorescent polyimide (PI) was synthesized by using perylene tetracarboxylic dianhydride (PTCDAH) and a oxydianiline (ODA) in N-methyl pyrrolidone (NMP) solvent at 160 8C for 5 h under nitrogen atmosphere. Similarly, the fluorescent PI nanocomposites were prepared in the presence of silver (Ag) and vanadium pentoxide (V 2 O 5 ) nanoparticles under identical experimental conditions. The above synthesized PI and its nanocomposites were characterized by FTIR spectroscopy, UV-visible spectroscopy, Fluorescence emission spectroscopy, DSC, TGA, SEM, and FESEM. The data are carefully analyzed and compared with the literature values. The catalytic activity of the fluorescent nanocomposite fiber was tested towards the reduction of p-nitrophenol (NiP), Cr(VI) and Rhodamine6G (R6G) dye.