Traditional colored rice varieties in India are the source of carbohydrates, phytochemicals and minerals. They facilitate the growth of probiotics in intestine and protect human from many chronic diseases. The present study investigated the nutritional properties such as total sugars, digestible sugars, resistant sugars, hydrolysis index, glycemic index and total proteins of thirteen colored varieties of rice in India. Nutraceutical properties like anti diabetic and prebiotic activity were investigated by standard methods. Chak hao poreiton and mappillai samba grains were 6.3 mm in length. Lowest length of 5.1 mm was recorded in 60 m Kuruvai. Among the rice varieties, mappillai samba has high concentration of digestible starch of 91% and Chak hao poreiton had low concentration of 62%. Resistant starch was 38% in Chak hao poreiton and 8% in mappillai samba. Lowest glycemic index of 52 and 53 were recorded in karuthakar poha and Chak hao poreiton respectively. Anthocyanin extracted from Chak hao poreiton inhibited 24% of human pancreatic α-amylase activity. It significantly increased the probiotic number from 0.15 CFU/mL to 1.95 CFU/mL. The study revealed that the black rice variety, Chak hao poreiton was rich in resistant starch and exhibited low glycemic index. The anthocyanins from Chak hao poreiton possessed significant antidiabetic and prebiotic activity. Molecular docking studies revealed the interaction of anthocyanin with pancreatic α-amylase, β-glucosidase and GLUT1.