Refraction is the phenomenon of bending of light as it goes obliquely from one medium to another. It is caused by the change in speed of light as it goes from one medium to another.
If you have ever half-submerged a straight stick into water, you have probably noticed that the stick appears bent at the point it enters the water. This optical effect is due to refraction. As light passes from one transparent medium to another, it changes speed and bends. How much this happens depends on the refractive index of the media and the angle between the light ray and the line perpendicular (normal) to the surface separating the two media.