The cold resistant mutants of P. fluorescens strain $PRS_{9}$ and ATCC13525 were developed which could grow equally well at $28^{circ}C$ and $10^{circ}C$. All the mutants were tested for siderophore production, of which $CRPF_9$ (ATCC13525 mutant) was selected, as there was a 16.8-fold increase when compared to its wild-type. Under in vitro conditions, $CRPF_9$ showed better growth promotion both in wheat (29.1% increase in root length) and mung bean (51.5% increase in root length) at $10^{circ}C$. Greenhouse trials showed a significant increase in root (13.84cm) and shoot (15.0cm) length of $CRPF_9$-treated mung bean seeds, indicating increased rhizocompetence of the mutant. Ferric citrate was a better iron source than ferric hydroxide for plant growth.