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Abstract
Banking sector is a fast growing sector of India. With swift expansion in the number of branches and the new functions assigned to them, banks are beginning to feel a new pressure on their organizational abilities i.e. the processes of recruitment, placement, training, promotion and appraisal, in order to ensure that the right number of staff with the right capacities are available at the right time and for the right places. Performance appraisal is the process of determining and communicating to an employee how he / she is performing on the job and ideally, establishing a plan of improvement. It is very much critical because it helps the managers to take the administrative decisions effectively relating to promotions, fringes, payoffs and merit pay increases of the employees. So, performance appraisal is a must for all organizations. This paper aimed at critically evaluating the existing performance appraisal systems of HDFC Bank and Axis Bank. The present study aims to know the opinion of bank employees of these two banks on performance appraisal systems and criteria followed in their banks.