Radio Frequency Identification or RFID in short is essentially an enabling technology. The unique advantage of RFID is that it eliminates the requirement of human intervention thus providing immense business value. RFID is a generic term that is used for describing system which transmits identity of a person or an object or even an animal wirelessly by making use of radio waves. A typical RFID system has 3 components, an antenna, a transceiver (it reads the radio frequency and subsequently transfers the information to a processing device) and a transponder or RF tag (containing RF circuitry and the information for transmission).