I am here by separating both the usages by marking them as File Read(java.io) and Resource Read(ClassLoader.getResourceAsStream()).
File Read - 1. Works on local file system. 2. Tries to locate the file requested from current JVM launched directory as root 3. Ideally good when using files for processing in a pre-determined location like,/dev/files or C:\Data.
Resource Read - 1. Works on class path 2. Tries to locate the file/resource in current or parent classloader classpath. 3. Ideally good when trying to load files from packaged files like war or jar.