Abstract: The present invention relates to a novel strain of the yeast Saccharomyces cerevisiae having accession number MTCC Y0022B211 (=NCYC 2647), which is useful for the preparation of ethanol by the fermentation of sugars. The invention also encompasses a process for the preparation of this strain of yeast, which process comprises: (a) growing a diploid strain of S. cerevisiae designated MTCC Y0001 (=NCYC 2646) in a known medium, sporulating the strain, treating the sporulated cells with a lytic enzyme to liberate the spores, collecting the liberated spores; (b) growing a haploid strain of S. cerevisiae designated MTCC Y0002 (=ATTC 90506); (c) mixing the spores obtained in step (a) with the cells obtained in step (b), incubating the resultant spore-cell mixture at a temperature in the range of 15.degree. C. to 37.degree. C. for a period of 1 to 10 days; (d) spreading the incubated spore-cell mixture on a non-medium, and incubating the mixture at a temperature in the range of 15.degree. to 37.degree. C.