Hello ,
 I was staying in Germany on deputation from last 2 years.i returned back to India 2 months ago.and now I am staying in  bangalore from last 2 months.Currently i have job offer from German company So I wanted to apply for Employment Visa from Bangalore Consulate.
Now the question is Am i allowed to apply from Bangalore consulate ?

PS : currently I have local address proof in bangalore i got deregistered from Germany while coming back. and My appoinment is in  october end.
If i am not allowed to apply from bangalore then what alternatives do I have ?

Can please somebody guide me on further proceedings. 

Yes, Definitely you can apply from Bangalore Consulate, you need to carry your local address proof and deregistration copy of German address just to prove that you were in Germany and you stay within Bangalore jurisdiction. Best of Luck !