Display omitted •Phytic acid (PA) is generally considered as an antinutrient, though it also plays beneficial role in both plants and animals.•Phytic acid has beneficial as hypoglycemic, antioxidant and anti-bacterial agent.•In plant, it helps in seed germination and protect against biotic and abiotic stress.•Fine-tuning of PA can be done by physical, chemical and genetic intervention. Phytic acid (PA), myo-inositol 1,2,3,4,5,6-hexakisphosphate is the principal storage compound of phosphorus (P) and account for 65%–85% of the seeds total P. The negative charge on PA attracts and chelates metal cations resulting in a mixed insoluble salt, phytate. Phytate contains six negatively charged ions, chelates divalent cations such as Fe2+, Zn2+, Mg2+, and Ca2+ rendering them unavailable for absorption by monogastric animals. This may lead to micronutrient deficiencies in humans since they lack the enzyme phytase that hydrolyzes phytate and releases the bound micronutrients. There are two main concerns about the presence of PA in human diet. The first is its negative impact on the bioavailability of several minerals and the second is the evidence of PA inhibiting various proteases essential for protein degradation and the subsequent digestion in stomach and small intestine. The beneficial role of PA has been underestimated due to its distinct negative consequences. PA is reported to be a potent natural plant antioxidant which plays a protective role against oxidative stress in seeds and preventive role in various human diseases. Recently beneficial roles of PA as an antidiabetic and antibacterial agent has been reported. Thus, the development of grains with low-PA and modified distribution pattern can be achieved through fine-tuning of its content in the seeds.