Present study deals with the production of low cost salted and dried product from anchovy fish (Stolephorus spp.) using traditional technology application of different inhibitory factors to achieve a reasonable shelf life at ambient tropical temperature. Microbial safety, nutrient retention and product quality in terms of flavor and texture after rehydration have been tested. This product has been subjected to storage studies, with respect to product quality and microbial status. It can be kept well for a period of 5 weeks. The quality changes during storage are; decrease in sensory scores for the overall acceptance and also for the individual attributes. Increase in nitrogenous components such as Total Volatile Bases Nitrogen (TVB-N), Tri Methyl Amine Nitrogen (TMA-N) and Alpha Amino Nitrogen (AAN) was obtained with the advancement of the storage period. The lipid quality of the fish showed gradual increase in Preoxide Value (PV) and Free Fatty Acid (FFA) accompanied by decrease in flavor and odor scores.Activity of microorganisms showed a marginal increase with increase in storage period.