<p>Groundwater being a critical and indispensable lifeline for mankind, adequate management of the resource has become increasingly urgent. Rapid depletion of groundwater due to augmented irrigation, industrial and human consumption is one of the major challenges for effective management of this vital reserve. The present work focusses on utilization of satellite data for estimating groundwater recharge and storage in Punjab. The study uses the CN (Curve Number) approach to calculate groundwater runoff and recharge, while accounting for the hydrological conditions, soil type, and land use. Additionally, groundwater storage variations were evaluated using an assimilation of GRACE and GLDAS satellite datasets to calculate variations in terrestrial groundwater storage through time. The results show a total of around 21.35 billion cubic metres (BCM) of groundwater recharge in Punjab. The rate of groundwater storage depletion in Punjab was estimated to be around 29.9&#xa0;cm per year. A moderate to strong correlation was observed between the estimates of groundwater storage assessed using the GRACE dataset versus the in-situ measurements in the study area, with R² values of 0.686, proving the veracity of the satellite-based groundwater storage estimates. Understanding the interactions between rainfall, recharge and groundwater storage is necessary for managing this vital reserve, especially in locations where groundwater serves as a significant freshwater source. Investigation of such relationships provides a basis for developing strategies that optimize groundwater utilization, mitigate environmental degradation and prevent aquifer overdraft. Such integrated approaches not only help identify over-extraction risks but also provide decision-makers with a scientific foundation for promoting sustainable groundwater use in data-scarce regions.</p>