Coalescence/breakup characteristics of binary collisions of small water drops (d_S=0.4-1.8 mm diameter) with large drops (d_L=3-3.5 mm diameter) occurring in the absence/presence of horizontal electric field (E_H) = 0, 100, and 300 kVm^-1 have been investigated in a small vertical wind tunnel using a high-speed digital camera. The coalescence efficiency (E_C) of 0.299 observed for average diameters (d_L=3.2 mm, d_S=1.2 mm) in E_H = 0 decreased to 0.244/0.211 when E_H is increased to 100/300 kVm^-1. The increase in the electric field reduces the probability of coalescence when Weber number (We) <1. However, when We ≥ 1, an increase in We restricts the probability of coalescence. Our data, when plotted in the regime diagram in the We*- p plane, delineates the collision outcomes in all-electric field values but does show the overlapping of some data points in the adjacent categories. After a binary collision, the relaxation time required for the occurrence of coalescence is higher than that for the breakup. Further, the relaxation time increases from the filament to sheet to disk mode of breakup in all-electric field values. Fragment size distributions after the filament and sheet types of breakups differ and are differently affected by the applied electric field. Higher collision kinetic energy (CKE) has a tendency to increase the number of fragments of the sizes between d_L and d_S. It is concluded therefore that, the effect of the electric field needs to be included in the estimation of drop growth and precipitation in clouds.