Despite the capability of Ocean Color Monitor aboard Oceansat-2 satellite to provide frequent, high-spatial resolution, visible and near-infrared images for scientific research on coastal zones and climate data records over the global ocean, the generation of science quality ocean color products from OCM-2 data has been hampered by serious vertical striping artifacts and poor calibration of detectors. These along-track stripes are the results of variations in the relative response of the individual detectors of the OCM-2 CCD array. The random unsystematic stripes and bandings on the scene edges affect both visual interpretation and radiometric integrity of remotely sensed data, contribute to confusion in the aerosol correction process, and multiply and propagate into higher level ocean color products generated by atmospheric correction and bio-optical algorithms. Despite a number of destriping algorithms reported in the literature, complete removal of stripes without residual effects and signal distortion in both low- and high-level products is still challenging. Here, a new operational algorithm has been developed that employs an inverted gaussian function to estimate error fraction parameters, which are uncorrelated and vary in spatial, spectral and temporal domains. The algorithm is tested on a large number of OCM-2 scenes from Arabian Sea and Bay of Bengal waters contaminated with severe stripes. The destriping effectiveness of this approach is then evaluated by means of various qualitative and quantitative analyses, and by comparison with the results of the previously reported method. Clearly, the present method is more effective in terms of removing the stripe noise while preserving the radiometric integrity of the destriped OCM-2 data. Furthermore, a preliminary time-dependent calibration of the OCM-2 sensor is performed with several match-up in-situ data to evaluate its radiometric performance for ocean color applications. OCM-2 derived water-leaving radiance products obtained after calibration show a good consistency with in-situ and MODIS-Aqua observations, with errors less than the validated uncertainties of ±5% and ±35% endorsed for the remote-sensing measurements of water-leaving radiance and retrieval of chlorophyll concentrations respectively. The calibration results show a declining trend in detector sensitivity of the OCM-2 sensor, with a maximum effect in the shortwave spectrum, which provides evidence of sensor degradation and its profound effect on the striping artifacts in the OCM-2 data products. © 2018 COSPAR