Cloud computing is a new technique of computing that is extensively used in today’s’ industry as well as society. It is a contemporary model and one of the latest computer industry buzzwords. Cloud computing brings the revolutionary changes in the world of ICT because of its potential benefits such as reduced cost, accessible anywhere anytime as well as its elasticity and flexibility. This paper will throw light on what cloud computing is? Its benefits and risks, architecture of cloud computing and how far this model is beneficial for Libraries.