This USB thing is driving me crazy. 2 problems in time span of 3 hours.
Ok I was already trying to cope up with "wrong fs type, bad option, bad superblock" error while mounting FAT Drives when to my amazement I discovered that none of the USB Storage devices showed up in the system

Useful outputs:
- tail /var/log/syslog:

root@shubham-pc:~# tail  /var/log/syslog
Nov  7 21:41:47 shubham-pc colord: device removed: sysfs-HP-v250w
Nov  7 21:41:51 shubham-pc kernel: [ 3441.529542] usb 1-1: USB disconnect, device number 11
Nov  7 21:41:53 shubham-pc kernel: [ 3443.820029] usb 1-2: new high-speed USB device number 14 using ehci-pci
Nov  7 21:41:54 shubham-pc kernel: [ 3443.952897] usb 1-2: New USB device found, idVendor=0781, idProduct=5530
Nov  7 21:41:54 shubham-pc kernel: [ 3443.952905] usb 1-2: New USB device strings: Mfr=1, Product=2, SerialNumber=3
Nov  7 21:41:54 shubham-pc kernel: [ 3443.952909] usb 1-2: Product: Cruzer
Nov  7 21:41:54 shubham-pc kernel: [ 3443.952913] usb 1-2: Manufacturer: SanDisk
Nov  7 21:41:54 shubham-pc kernel: [ 3443.952917] usb 1-2: SerialNumber: 20060876420EC6016847
Nov  7 21:41:54 shubham-pc mtp-probe: checking bus 1, device 14: "/sys/devices/pci0000:00/0000:00:1d.7/usb1/1-2"
Nov  7 21:41:54 shubham-pc mtp-probe: bus: 1, device: 14 was not an MTP device