A method of dynamic memory management in a user equipment (UE) is provided. The method includes receiving, by the UE, transport block size (TBS) information, from a base station (BS), associated with a data packet to be transmitted by the BS to the UE; identifying, by the UE, a plurality of empty bins and a size of each of the plurality of empty bins in a memory of the UE; detecting, by the UE, a presence of one or more empty bins, among the plurality of empty bins in the memory, with a size of each of the one or more empty bins greater than the TBS of the data packet; and allocating, by the UE, a smallest size empty bin, with a size greater than the TBS of the data packet, among the one or more empty bins to the data packet.