If it is grinding even with fluid level full, then you may need a new pump... Running pump on low level damages the fins. And always use honda PSF, the PSP in this car is very touchy about the fluid you use 
Btw make sure it is the PSP, does the sound increase when you turn steering? does it whines even more when steering is turned full to one side and you give race? Once again you should use honda PSF because it is made with special ingredients which does not cause bubbles in fluid because air bubbles in PS system is bad! and the design of PSP makes a lot of bubbles. Just open cap of reservior when car is running and see if has bubbles? You may need to change seals, replace fluid with honda PSF, bleed the system and off you go. I am still uncertain if pump needs replacement unless you answer questions posted above
Ammad, he mentioned another sound related to suspension system, two different problems It could be sound coming from shocks or may be just from mounts, a good mechanic can help you identify.
Guys have you ever replaced clutch plate etc? my car is 135k on odo and never needed to replace clutch plates until now lol Clutch abhi bhi slip nahi karta, not at all and it easily reaches high speeds even when loaded but problem is that usually when car is cold, the clutch/engine vibrates when i let go of clutch in first gear from a stand still. This vibration is only at biting point and afterwards its fine..
Today i checked if car is put in high gear, and i place my foot with little pressure on pedal (not to disengage it but to get a feel of it) and give race, there is vibration in pedal too. Any idea what am i looking it?
Earlier my car was diagnose with clutch bearing problem too
