Banana is a very common, cost effective and easily available fruit in India. It is an ideal food for children and invalids. Currently, there is very limited commercial processing of bananas. Most people consume bananas fresh, steamed, or boiled. During bumper harvests, farmers sell bananas at give-away prices and a lot of harvest is wasted. Banana is a perishable fruit that undergoes fast ripening and hence is very difficult to transport to distant places. The present invention describes a storage stable banana product that can be stored for a long time, without loosing the nutritional quality, can be transported to distant markets, where bananas are not grown, can be sold in local markets and to hotels and supermarkets. The said product can be consumed as it is or after deep frying or roasting