Photophysical techniques were employed as a tool to determine the binding interaction of an Intramolecular Charge Transfer (ICT) based dye 4- Dicyanomethylene-2,6-dimethyl-4H-pyran (DDP) with Bovine Serum Albumin (BSA) in water. Addition of BSA to DDP dye results no significant change in the ICT absorption maximum but a well-marked enhancement in the fluorescence quantum yield of the dye. The enhancement on the addition of BSA shows that the excited state characteristics of dye are influenced by the protein that comprises several hydrophilic and hydrophobic amino acid moieties. Fluorescence lifetime decay characteristics of DDP dye with BSA exhibits a tri-exponential decay with a large variation in the fluorescence lifetime and relative amplitude distribution. The dye is situated predominantly in the hydrophobic interior rather in the aqueous phase is established from time resolved fluorescence lifetime studies. The coexistence of three different fluorescence lifetime components of dye in the presence of BSA signifies the existence of dye in a heterogeneous micro environment with varying proportion. The existence of multi environment is authenticated by electrochemical impedance spectral studies (EIS). BSA markedly influences the redox potential properties of dye which reveals that the presence of charged species (zwitter ionic structure of amino acids), polar and non-polar moieties governs the electrochemical nature of DDP dye.