Banana (Musa spp.) is a vital fruit crop contributing significantly to food security and global economy. Understanding the relationships between various traits, quality and yield is crucial for improving yield and fruit quality through targeted breeding programs. This study investigates the genetic variability, correlation and path analysis of key traits in banana to unravel their direct and indirect effects on yield. A diverse set of 47 banana accessions was evaluated for eleven traits. The pseudo stem girth, bunch length, number of hands, finger length, number of fingers per bunch and suckering capacity recorded higher estimates of Genotypic Coefficient of Variance (GCV) and Phenotypic Coefficient of Variation (PCV). Among the eleven traits, 10 traits showed high heritability and Genetic Advance as Percent of Mean (GAM) whereas the leaf length showed high heritability and moderate GAM. The number of fingers per bunch exhibited positive correlation with the number of leaves, bunch length, number of hands and pseudo stem girth indicating their contribution in yield determination. Path coefficient analysis further demonstrated that the number of hands per bunch had the highest positive direct effect on number of fingers per bunch, followed by pseudo stem girth, number of leaves and leaf length, highlighting their potential as selection criteria for yield improvement. Conversely, the traits bunch length showed indirect effect on yield through other traits indicating their complex role in banana productivity. These findings provide valuable insights into trait interrelationships and offer a framework for developing high-yielding banana varieties through innovative and conventional breeding strategies.