Abstract: A system for monitoring an electrical device and a method thereof is provided, wherein at least one primary unit is connected with an input side and/or an output side of the electrical device and configured to obtain electrical parameters of the electrical device. A secondary unit is connected with each primary unit and configured to receive the electrical parameters obtained by the primary unit, store the electrical parameters to form a repository of previously obtained electrical parameters, compare the electrical parameters with previously obtained electrical parameters to determine any deviation in the electrical parameters and correlate the deviation in electrical parameters with a list of impending faults to identify any impending fault. The secondary unit based upon the correlation of the electrical parameters generates a summary and/or alert indicative of state of the electrical device by way of alerts, notifications etc.