Banach Contraction Principle is one of the most acknowledged formulations in metric fixed point theory. This principle is not only of significance in mathematical sciences but in fact, it has direct quick headways in different fields in the form of applications in chemical, physical, medical and engineering sciences. Apart from this, the line of research in this field is also having applications in economics, robotics, space sciences, neural networking, signal processing and in many other diverse fields. This chapter deals with an expository survey of advancements of the Banach Contraction Principle during the last century. In fact, this study provides an explicative study of literature projecting the furtherance of the Banach Contraction Principle in the form of its extensions, generalizations and improvements in metric spaces.