How to find resource intensive SQL operations in Postgresql? High CPU usage spike
The problem was with the indexing of few tables. I was able to identify those tables with Read stats by performing the following query.

SELECT relname, idx_tup_fetch + seq_tup_read as TotalReads from pg_stat_all_tables WHERE idx_tup_fetch + seq_tup_read != 0 order by TotalReads desc LIMIT 10;