In present research work, isolation of the biopolymer, from the novel strain of phototrophic anoxygenic phototrophic bacteria Rhodopseudomonas palustris isolated from sugar industrial effluent, is reported. It is characterized and the efficacy of binding the biopolymer (PHB) with protein (BSA) is investigated. The strain Rp. KRPR02 is selected for the characterization and protein binding studies as it produced more amounts of PHB. The extracted biopolymer is confirmed as PHB by instrumental techniques such as UV–Visible spectroscopy, FTIR analysis, C13 NMR spectroscopy, and XRD analysis. The efficiency of PHB binding to BSA is evaluated and found that it can efficiently bind to BSA. Hence, it can be used for biomedical and pharmaceutical applications as drug carriers and also as nanocapsules to carry the micro‐ and macronutrients in agriculture.