The nitro groups in aliphatic and aromatic nitrocompounds also containing reducible substituents such as ethene, acid, phenol, halogen, ester etc., are rapidly reduced at room temperature to corresponding amines by employing hydrazinium monoformate, a new hydrogen donor, in the presence of Raney nickel. It was observed that the nitrile function also undergoes reduction to methylamine (–CH2–NH2). Hydrazinium monoformate is a more effective donor than hydrazine or formic acid and reduction of nitro and nitrile groups occurs without hydrogenolysis in the presence of low cost Raney nickel, compared to expensive metals like palladium, platinum or ruthenium. The reduction is reasonably fast, clean and high yielding.