Abstract: With competing demands on limited fresh water resources, industrial pollution remains one of the major problems facing worldwide. Fish populations are vulnerable because the aquatic environment is the direct recipient of virtually every form of human waste. The present study investigated the effect of industrial effluents on morphological and hematological indices of Amblyceps mangois. Fish were exposed to river water contaminated with industrial effluents for 15 days. A second group without exposure to paper mill effluents served as control. Fish exposed to industrial pollutants showed unusual swimming patterns, opercular movements and other physiological responses. Hematological studies showed decreased RBC count and increased WBC count in effluent treated fishes, inferring blood balance disturbance and infection in fishes. Some effluent exposed fishes were also found to be anemic. The physical parameter of Barak river water thus indicates that it is unfavorable for fish survival; however, the degree of toxicity gets lowered as it goes downstream.