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Abstract
Banking services is one sector where a great degree of attention is being paid to Performance Appraisal Systems (PAS). Since banks play an active role in the economic development of a country, their ability to make a positive contribution in igniting the process of growth depends on the effective utilization of human resources. In this case, the performance appraisal helps as a tool to gear up with changing trends. As there is heavy competition between public and private sector banks in India, the performance of the employees and their evaluation plays a crucial role. In this context, a comprehensive evaluation of performance appraisal rating to rewards is required and hence the present study is needed. The study concludes that both the public and private sector banks shall make use of appraisals effectively and shall link the results to rewards comprehensively which in turn enhances the employees’ satisfaction.