Introduction: Mentors are thought to be the torchbearers in the academic journey of students and mentoring is a meaningful commitment, which influences the personal, psychosocial, and academic progress of students. Skilled mentors are critical to teaching-learning activities. Little is known about the skills and mentoring practices. Methodology: A descriptive cross-sectional design was found most appropriate to assess the perceptions of mentoring competencies and feedback on ongoing mentorship practices. 223 nursing students (Mentees) and 20 teaching faculty (Mentors) participated. A structured questionnaire for feedback, Mentor Competency Assessment (MCA) skill inventory, and Mentee Motivation Scale was used. Ethical procedures were followed for data collection. Results: 90% of mentees were females with a mean age of 22.0 ± SD2.6. Though most mentees found the mentoring sessions motivating, there were 3 to 7% who never found it motivating. 86.55% communicate face-to-face to their mentors in the faculty office while 69% do during the clinical postings. Though most mentees found mentoring sessions motivating, there were 3 to 7% who were never motivated. 95% of mentors were females. 70% aged up to 40 years and 30% between 41 to 50 years. 80% were Post Graduate and 20% with PhD their as highest qualification. Mentoring competency overall mean scores of mentees ranged from 4.64 – 4.75 while mentors self-rated themselves higher with a mean score of 5.05 – 5.87 on a 7-point rating scale for six core competencies. The mean scores from both mentors and mentees were found between 4 - 6 which is interpreted as mentors moderately skilled Conclusion: Mentoring students contribute to the enhancement of personal and professional development. Strengthening the competency of mentors can definitely improve the perception, motivation, and satisfaction of mentors as well as mentees for the mentorship practices.