I have calculated Normalized difference vegetation indices from landsat 5 band 3 and band 4 that have 0-0.38 minimum and maximum ranges respectively. But whenever I open the same NDVI.tiff file in ArcGIS 10.1, it shows me the 0-0.68 valid ranges. Is there any different interpolation techniques of showing the same file in different software?
In QGIS, by default cuts the full range of values off and only shows those in the 2-98% range. No idea why this is the default, but it is.
You can change that by opening the properties window for that raster layer and going to the Style tab.
In there, change "Load min/max values" to "Min / Max" and make sure "Extent" is set to "Full", also might help to change "Accuracy" to "Actual".
Then press "Load" and then "OK" to get back to the map.
I'm curious if after making these changes in QGIS, it would match what you see in ArcGIS.
Check your bit depth. ArcGIS does strange things to rasters sometimes. It may have changed the radiometric resolution of the file.