I'm running Win Xp Sp2 . The issue seems solved as of now (after a minor setting that I changed in the BIOS) . The settings in the BIOS which I think are related to Display are as follows :
(The x sign in front of an option is the current selection - after I reset the BIOS Settings to Default Factory Settings )
I Under STANDARD CMOS FEATURES :
Video EGA/VGA x
CGA 40
CGA 80
Mono
II Under ADVANCED CHIPSET FEATURES :
Memory Hole at 15M - 16M Disabled x
Enabled
Init Display First Onboard x
PCI Slot
On Chip VGA Enabled x
Disabled
On Chip Frame Buffer Size 1 MB
8 MB x
16 MB
III UNDER PnP/PCI CONFIGURATION :
Assign IRQ for VGA Enabled
Disabled x
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I have again experimented with the last setting , namely "Assign IRQ for VGA" (changed it to "disabled" , the factory default was "enabled" ) , and after this change , the multicolor blocks don't come on the screen anymore . However, the letters seem slightly faded & I guess I'll try with your suggestion about the Device Driver . Meanwhile , tried contacting the Motherboard Company but they haven't given any satisfactory answer . Will try & research through Google if I need to change any more BIOS settings as well . Will try & keep you updated on the issue .