Very limited studies have reported the issue of depression among Indian university students. The secondary data available from the National Crime Records Bureau (NCRB) Report, 2014, Ministry of Home Affairs, Government of India indicates that every day 6.77 students from different age groups commit suicide in India because of depression caused by the academic failure. At the same time, it has been reported by a number of studies of western countries that perceived family environment, positive relationship with parents, past academic performance, economic condition of the students, perceived academic environment, living arrangements and personal issues have some positive association with level of depression of the University students (Heiligenstein et al., 1996, Coombs, 1991 and Khawaja and Duncanson, 2008).