Mahesh Vaidya:
If I create branch in source, will it propogate to remaining submodules ?
No, the branch is only created in the top-level module.
or in other words can I have "global branch" and "global tag"
The branch is "global" in the way that it does contain a reference to the
current commit of the submodule. You do not *need* to have a local branch
in the submodule to change where it pointed to from the top-level module. It
does help to have it, though, as you eventually probably will want to push
your changes somewhere, and then you need to have a symbolic reference in
the submodule(s) you have branched as well.
--
\\// Peter - http://www.softwolves.pp.se/