There is only one bank - the UCO bank in the main Lakshadweep city. Hence, tourists coming here must be prepared for the same. They should carry enough cash with them and should not expect any banking help while they come here. Even today, many elderly locals are dependent on this lone bank for their monthly banking requirements like withdrawals, deposits, collecting pensions, paying bills etc. This bank has been serving the locals and tourists for many years together and witnessing lots of crowd during peak working hours as it is the only bank in the area. There are plans to develop more private sector banks in this scenic island, but nothing has been finalised as of now.