Howdy @praveennagh - You can think of these as presets for adjusting the final color output for each of the shots taken under that particular setting.
For example, if you set the Picture Style to 'Monochrome' all of your future shots will be taken in black and white. Likewise, if you were to select a 'Portrait' Picture Style, the resulting photos would produce softer skin tones.
You can also customize the picture styles to your liking, adding in more contrast, sharpness and color saturation. Hope that makes sense and happy shooting! :)
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For example, if you set the Picture Style to 'Monochrome' all of your future shots will be taken in black and white. Likewise, if you were to select a 'Portrait' Picture Style, the resulting photos would produce softer skin tones.
You can also customize the picture styles to your liking, adding in more contrast, sharpness and color saturation. Hope that makes sense and happy shooting! :)