I want to profile (keep an Eye on) all the activities that goes on in a Database which is in PostgreSQL.
Is there any such utility which will help me do this?
"Keep an eye on" and "profile" are two quite different tasks in my view.
For profiling (not a live view on what's going on right now, but to see which queries take most time etc), check out pgFouine:
http://pgfouine.projects.postgresql.org/
This will let you see which queries are resource intensive, and take appropriate action: Add missing indexes, rewrite queries using other techiques etc.