Green nanoparticle synthesis methods have immense therapeutic applications due to their biocompatibility and lack of toxicity. We report the synthesis of silver nanoparticles (AgNPs) using the leaf extracts of traditional medicinal plant Aeschynomene indica (Fabaceae). The color change from yellow to brown and absorption peak at 447 nm indicated the synthesis of AgNPs. High-resolution transmission electron microscopy images exhibit polydisperse, spherical AgNPs in the size range of 10-24nm. X-ray diffraction studies confirmed the crystalline nature with a face-centered cubic (FCC) structure of the AgNPs. The stability of the nanoparticles was confirmed by dynamic light scattering and zeta potential studies. FTIR spectroscopy revealed the presence of compounds with functional groups such as primary amines, phenols, aldehyde/ketone, aromatic, and nitro groups, which may be responsible for the reduction of AgNPs. The antibacterial activity of plant extracts and synthesized AgNPs was confirmed by agar well diffusion method. The synthesized AgNPs showed potential antibacterial activity with a zone of inhibition of 14.5 mm on Pseudomonas aeruginosa; 14.2 mm on Escherichia coli; 11.5 mm on Staphylococcus aureus; and 10.3 mm on Bacillus subtilis. Also, the silver nanoparticles exhibited a 73.9% antioxidant activity confirmed by DPPH analysis. The antibacterial and antioxidant activities of AgNPs synthesized from leaf extracts of A. indica can be employed for biomedical applications.