Size and shape-controlled synthesis of metal nanostructures has received significant interest in materials research, as metal nanoparticles are likely to have a considerable impact upon the fields of catalysis, sensing, photonics, optoelectronics and biology, due to their unique size- and shape-tunable physico-chemical properties (Hao et al., 2004; Burda et al., 2005; Shukla et al., 2005; Lu et al., 2009; Sardar et al., 2009). With significant developments in this field, the current focus is predominantly on synthesis of ultra-fine (sub-10 nm) metal nanoparticles with narrow size distribution that remain stable in reaction media, tuning the shape of metal nanostructures, to understand the metal nanoparticles shape-guiding mechanisms, and to understand their structure-property correlation (Lu et al., 2009). To prepare metal nanoparticles (colloids), the most commonly employed approach is the bottom-up wet-chemistry approach. In this approach, typically in the presence of a capping/stabilizing agent, metal ions are controllably reduced, wherein individual metal atoms combine to form metal nanoparticles stabilized by capping agents. Although in few instances reducing agents themselves act as stabilizers, capping agents are generally considered essential to minimize the surface free energy of metal nanoparticles, which would otherwise aggregate in the absence of these capping agents. In most of the well established wet-chemistry routes of metal nanoparticles synthesis, aqueous or organic solvents are generally employed, while the use of ionic liquids (ILs) for synthesis of metal nanoparticles is a relatively recent phenomenon.