Melt the jaggery in a saucepan over medium heat, stirring until it is a smooth liquid. Whisk in the evaporated milk and heavy cream until fully combined.

Stir in the salt and bring the mixture almost to a boil, then remove it from the heat. Allow the mixture to cool completely before pouring into kulfi molds and freezing until solid.

When ready to serve, coarsely crush the peanuts using a mortar and pestle. Slice the bananas into rounds at a slight angle.

Heat the oil in a frying pan and add the bananas, drizzling honey over them. Let them sit without stirring for a minute until they achieve a deep golden caramelization on both sides.

Unmold the kulfis by briefly dipping the molds into hot water and tapping them onto a plate. Serve immediately with the warm caramelized bananas and a crunch of salted peanuts.