Abstracts Modern astronomy observations have discovered fascinating features that cannot be easily explained. Consequently, researchers frequently develop models that eventually explain the observed phenomenon. This paper reviews the essential aspects of the quasi-Keplerian theory of accretion around magnetized objects. Starting from the standard model of accretion by Shakura and Sunyaev, basic elements of accretion mechanism in X-ray binaries is discussed. In a quasi-Keplerian model, the disc is unstable whenever the azimuthal velocity is higher than the Keplerian velocity value. This model can also be applied in investigations of planet formation from a protoplanetary disc where magnetic strength is low.