Mix the sugar and 1/4 cup water in a heavy-bottomed large saucepan
. Heat the sugar mixture on high heat until the mixture caramelizes; the water will need to evaporate before the sugar will caramelize
. Once the caramel reaches a deep brown color, turn the heat to low and carefully add the bananas
. Stir with a wooden or heat-resistant spoon until the bananas begin to break down, 10 to 15 minutes. Add the salt and remove from the heat. Stir in the lime
juice and vanilla.
Serve with warm biscuits. The jam will keep in the refrigerator for up to 1 month.