The development of metal deposition processes based on electroless nickel, alloy and composite coatings on various surfaces has witnessed a surge in interest among researchers, with many recent applications made possible from many excellent properties. In recent years, these coatings have shown promising corrosion and wear resistance properties and large number of newer developments became most important from macro to nano level applications. After a brief review of the fundamental aspects underlying the coating processes, this paper discusses in detail about different electroless nickel alloy, composite, nano plating, bath techniques, preparation, characterization, new depositing mechanism and their recent applications, including brief notes on difficult substrate and waste treatment for green environment. Emphasis will be onto their recent progress, which will be discussed in detail and critically reviewed.