Natural fiber-reinforced nanocomposites (NFRCs) are proved as the best alternative for synthetic composites in view of cost and environmental effects. NFRCs have been produced from agro-waste such as banana tree fiber (BFs), because BF are strong, light-weight, and have smaller elongation. To improve the quality of BF, multiwall carbon nanotubes (MWCNTs) are used as reinforcing filler. MWCNTs are functionalized by an ecofriendly radio frequency oxygen plasma processing method. Cellulose nano-crystals (CNC) are extracted from BFs by double hydrolysis process and a simple dip-drying technique has been used to produce NFRCs. Field emission scanning electron micrographs and transmission electron microscopy conform the well functionalization of MWCNTs and also ensure homogeneous incorporation in the BF matrix. The composites continue thermally stable corresponding to BFs. Mechanical strength of the NFRCs are improved owing to the incorporation of MWCNTs. Functional groups in the BFs, CNC and NFRCs are investigated by Fourier transform infrared spectroscopy. The current density of the sample is increased 1000 times than the raw fibers and conductivity increases up to 17 Sm<sup>-1</sup>, which increases with temperature under the applied voltage 100 V and shows the linier characterization. Therefore, these light-weight biodegradable NFRCs encourage its ability as cost effective industrial conductive composite as usable in electronic devices.