E-learning is the most promising venture in the entire world. During the COVID-19 lockdown, e-learning is successfully providing potential information to the students and researchers. In developing nations like India, with limited resources, e-learning tools and platforms provide a chance to make education available to middle and low income households. This paper gives insights about three different online services, namely Google Classroom, Zoom, and Microsoft Teams being used by three different educational institutions. We aim to analyze the efficiency and acceptability of e-learning tools among Indian students during the COVID-19 lockdown. The paper also aims to evaluate the impact of e-learning on the environment and public health during COVID-19 lockdown. It is found that e-learning has potential to reduce carbon emissions, which has beneficial impact on the environment. However, the mental health is impacted as e-learning may lead to self-isolation and reduction in academic achievements that may lead to anxiety and mental depression. Due to usage of electronic devices for learning, the eyes and neck muscles may be put in strain, having deleterious effects on physical health.