We report an unique method for the development of functional, non-toxic, flexible and moldable, simultaneous X-ray and EMI radiation shielding material, capable of simultaneous X-ray and EMI radiations shielding by exploring the multi elemental, multi componental phases present in red mud. The ceramic treatment of red mud leads to the formation of tailored radiation shielding powder having multilayered and multi shielding phases. Further, the shielding powder was treated with rheological and chemical compatible silicone polymer i.e. Polydimethylsiloxane (PDMS) to make inorganic–organic hybrid gel, which was further used to develop functional radiation shielding material of varying desire dimensions. The process basically involves sorption of PDMS on to the surface of particles of tailored radiation shielding powder via functional groups at interface which helps in achieving excellent dispersibility in the developed functional shielding material. The developed functional shielding material was evaluated for its diagnostic X-ray attenuation as well as electromagnetic shielding effectiveness (EMSE) characteristics and found to posses highly effective properties. X-ray attenuation was studied using Nomex Multimeter from PTW for energies of 80 kVp and 100 kVp X-ray photons. Evaluation of EMSE of the developed shielding material was done using vector analyzer in the frequency range of 8.2 GHz to 12.4 according to ASTM D4935. Also, the developed material was characterized by using various complementary techniques like FTIR, TGA, DSC, FESEM, XRD and EDXA for studying the chemical compatibility of PDMS with shielding powder. The developed functional material can be used in broad application spectrum ranging from diagnostic X-ray and CT scanner room to other strategic radiation shielding installation and other electronic devices simultaneously.