Monopterus cuchia is a freshwater mud eel predominantly found in Bangladesh and the North East Region of India but available in Nepal, Sri Lanka, Pakistan, Indonesia, Philippines, etc. as well. M. cuchia is a tasteful, medicinally valuable, nutritionally rich, and economically important fish with high demands in national as well as international markets. The eel is recommended for consumption due to its high protein content and calorific values besides its high erythrocyte indices. The fish is usually available in freshwater ecosystems and shows survivability in extreme environmental conditions like high temperatures, low oxygen levels, high salt conditions, shallow waters, etc. by showing various morpho-histochemical, respiratory, and epidermal adaptations. It plays an important role in the socioeconomic development of a nation by providing employment and means of livelihood to millions of people involved in its production, catching, and marketing. The population of the eel is declining at a faster rate due to aggressive catching and less rearing, habitat destruction, and lack of conservative measures, therefore, requires serious attention in terms of production and conservation. In this regard, the current review gives a deep insight into nutritional, therapeutic and economic importance, habitat, morphology, reproduction, population status, diseases, toxicological studies, and adaptability to extreme environmental cues of the eel. The review also discusses the prevailing socioeconomic status of cuchia catchers and the strategies required to provide them with better employment and boost their social status. The review also discusses several conservative measures of the eel including induced breeding and developing genetic and molecular markers.