  The present paper is devoted to the study of bouncing cosmology in $f(R,T)$
modified gravity where we presume $f(R,T) = R + 2 \lambda T$, with $R$ the
Ricci scalar, $T$ the trace of energy momentum tensor and $\lambda$ the model
parameter. We present here a novel parametrization of Hubble parameter which is
apt in representing a successful bouncing scenario undergoing no singularity.
We proceed to present a complete analysis of the proposed bouncing model by
studying the evolution of primordial curvature perturbations, energy conditions
and stability against linear homogeneous perturbations in flat space-time. We
also delineate bouncing cosmology for the proposed model by employing Quintom
matter. The present article further communicate for the first time that
violation of energy-momentum materialize for both the contracting and expanding
universes except for the bouncing epoch with energy flow directed away and into
the matter fields for the contracting and expanding universe respectively. We
further present a thorough investigation about the feasibility of the proposed
bouncing scenario against first and generalized second law of thermodynamics.
We found that the proposed bouncing scenario obeys the laws of thermodynamics
for the constrained parameter space of $\lambda$. The manuscript conclude after
investigating the viability of the proposed bouncing model in non minimal
$f(R,T)$ gravity where $f(R,T) = R + \chi R T$.
