Phenotype and gene frequencies of several polymorphic genetic markers were examined in a Sikh agriculturist caste group, Lobanas of Punjab, India. Lobanas have been a trading community, now settled as cultivators, but for their origin there have been a difference of opinions. To trace their genetic relationship the gene frequency data was compared using multivariate analysis with several populations of India, which historically shared not only a common life style but also have a synonymous meaning of Lobana. The results of the study showed a conclusive genetic heterogeneity of Lobanas compared to the populations of North West and South India. While there is a suggestion that the differences in genetic structure of Lobanas may be due to their historical affiliation but the overall genetic diversity in this population may also be influenced by inbreeding, admixture and selection due to change in socio-economic factors.