Configured MySQL replication but its not working
What concerns me here is the use of both replicate-do-db on the Slave and binlog-do-db on the Master at the same time.

There is no need to use both. I would remove binlog-do-db from the Master. I would also look over any queries with fully qualified table names. Why ?

If you replicate any SQL use fully qualified table names (dbname.tblname) and you use replicate-do-db, MySQL Replication gets confused if you execute USE dbname.

Percona explained this in conjunction with binlog-do-db and replicate-do-db back in May 2009.

Percona also suggested reading the replication filtering rules thoroughly.