The organisers of the Ranji Trophy, 1992-93, BCCI changed the rule of knock out level in this edition to some extent. The BCCI allowed the top two teams from each zone to enter into the knock out level of the tournament, according to the previous rules. It also allowed the top four teams among all the other teams of the five zones to compete in the knock out level. As a result of the new rule, there were a number of 14 teams played against each other in the knock out matches of the Ranji Trophy, 1992-93. The teams included the likes of Karnataka, Madhya Pradesh, Tamil Nadu, Assam, Baroda, Hyderabad, Bombay, Bihar, Maharashtra, Railways, Punjab, Bengal, Uttar Pradesh and Haryana. The teams took part in the Pre-Quarter-Finals, Quarter-Finals, Semi-Finals and Final match of the tournament and the Punjab team eventually became successful to win the championship title.

The teams of Karnataka and Madhya Pradesh played against each other in the first Pre-Quarter-Final match of the Ranji Trophy, 1992-93 and the two teams played the match at Bangalore from 05-09 February, 1993. The Madhya Pradesh team played very well in the closely contested match and eventually clinched a narrow victory of only 5 runs for entering into the Quarter-Final stage of the tournament. The second Pre-Quarter-Final match of the Ranji Trophy, 1992-93 was played between the teams of Tamil Nadu and Assam and the match was held at Chennai from 05-09 February, 1993. The Tamil Nadu team advanced to the Quarter-Finals of the tournament by winning this match with a margin of an innings and 72 runs. The Baroda and Hyderabad teams met with each other in the third Pre-Quarter-Final match of the Ranji Trophy, 1992-93 and the match took place at Vadodara from 12-16 February, 1993. The Hyderabad team won the match by a margin of 51 runs for getting promotion to the Quarter-Final stage of the tournament.

The match between the teams of Bombay and Bihar was the fourth Pre-Quarter-Final match of the Ranji Trophy, 1992-93 and the two teams played the match at Bombay from 12-15 February, 1993. The Bombay team played very well in the match and clinched a victory of an innings and 41 runs for getting the permission to play in the Quarter-Finals of the tournament. The fifth Pre-Quarter-Final match of the Ranji Trophy, 1992-93 saw the teams of Maharashtra and Railways playing against each other at Pune from 12-16 February, 1993. Though the match remained drawn during the specified period of time, the match officials allowed the Maharashtra team to advance to the Quarter-Final stage of the tournament for having a lead in the first innings of the match. Then the teams of Punjab and Bengal played against each other in the sixth Pre-Quarter-Final match of the Ranji Trophy, 1992-93 and the match took place at Ludhiana from 12-16 February, 1993. The winner of the match was the Punjab team with a margin of 6 wickets and the team also entered into the Quarter-Final stage of the tournament. The last Pre-Quarter-Final match of the Ranji Trophy, 1992-93 involved the teams like Uttar Pradesh and Haryana and the two teams played the match at Ghaziabad from 12-16 February, 1993. The Uttar Pradesh team got the permission to play in the Quarter-Finals of the tournament, as it had a lead in the first innings of the drawn match.

After the completion of the Pre-Quarter-Final matches, the winning teams played against each other in the Quarter-Final matches of the Ranji Trophy, 1992-93. The first Quarter-Final match of the Ranji Trophy, 1992-93 was played between the teams of Madhya Pradesh and Delhi and the match was held at Bhopal from 26 February-02 March, 1993. The match remained drawn during the stipulated duration and the Madhya Pradesh team was declared as the winner of the match, as it was leading in the first innings of the match. The Madhya Pradesh team also entered into the Semi-Final stage of the tournament. The teams of Maharashtra and Tamil Nadu played against each other in the second Quarter-Final match of the Ranji Trophy, 1992-93 and the two teams played the match at Bhusawal from 26 February-01 March, 1993.

The Maharashtra team entered into the Semi-Final stage of the tournament by winning this match with a huge margin of 10 wickets. The Punjab and Hyderabad teams played against each other in the third Quarter-Final match of the Ranji Trophy, 1992-93. The match took place at Ludhiana from 26 February-02 March, 1993. The Punjab team played very well in the match and clinched a victory of 9 wickets for reaching the Semi-Finals of the tournament. The last and fourth Quarter-Final match of the Ranji Trophy, 1992-93 involved the teams like Uttar Pradesh and Bombay and the match was held at Kanpur from 26 February-02 March, 1993. The match became a tie after the stipulated period of time and the match officials allowed the Uttar Pradesh team to advance to the Semi-Finals, after tossing a coin.

The first Semi-Final match of the Ranji Trophy, 1992-93 was played between the teams of Maharashtra and Uttar Pradesh and the match was organised at Pune from 12-16 March, 1993. The Maharashtra team played very well in the match and entered into the Final of the tournament by clinching a victory of 99 runs. The teams of Madhya Pradesh and Punjab played against each other in the second Semi-Final match of the Ranji Trophy, 1992-93 and the two teams played the match at Indore from 13-16 March, 1993. The match saw the Punjab team winning by a good margin of 80 runs and setting up a clash with the Maharashtra team in the Final of the tournament.

Thus, the teams of Punjab and Maharashtra locked their horns together in the Final match of the Ranji Trophy, 1992-93 and the match was organised at Ludhiana from 27-30 March, 1993. The Punjab team dominated the Maharashtra team throughout the Final match and eventually clinched a victory of 120 runs for winning the match as well as the championship title.