Global production of bananais adversely affected by abiotic stresses, namely, drought, salinity and low temperature which cause changes in morphology, anatomy, physiology and biochemical metabolism in plant. Different banana cultivars respond differently when grown in subtropical regions due to changes in temperature mainly at the time of flowering and fruiting. The subtropical regions persist cold in winter which become a major constraint for proper growth and development of banana. Only few cultivars are identified for cold tolerance. The cold tolerance is a complex phenomenon, involving numbers of interrelated metabolic pathways. With the onset of cold, growth decrease through alteration in the synthesis of metabolites which are regulated by expression of genes and their interactions. Recently, complete genome sequencing, mutation and transgenesis provided deep insight into the complex mechanism of cold tolerance in banana. In this review, efforts are made to compile the findings and to interpret the better application of technologies in understanding the cold tolerance which may assist in banana breeding.