I would like to learn R programming as I am interested in learning new programming language. Is R software being used for commercial purpose especially in financial industry.
Yes. There is actually an annual R in Finance conference hosted in Chicago (http://www.rinfinance.com/agenda/).
Additionally, there are a wide variety of R packages (i.e. stockPortfolio and quantmod) developed specifically for finance. You can find a list of such packages at http://cran.r-project.org/web/views/Finance.html.