Transformer has wider footprint in modern power distribution systems. The deregulate electrical energy market demands for a reliable and uninterrupted power supply. Therefore, sudden failure of such device is strategically important and it has technical and commercial impacts. Technically, the outage may affect system stability based on location and operating condition. Commercial aspect includes loss of revenue due to discontinuity in supply to the consumer, penalties from state or national regulatory commissions, damage to the distribution transformer and peripherals. This necessitates development of a sensitive remote condition monitoring system (RCMS) for health assessment of distribution transformer to detect faults in the distribution transformer at inception stage. Statistical analysis suggests winding failure as a major contributor for distribution transformer failure. Therefore, this book aims to develop model for remote condition monitoring system for health status assessment of transformer by considering offline and online parameters.