One of the most important part of HRD system in a business enterprise, is the Performance Management. Major industries in India are following 360 degree feedback technique for leadership development intervention. Performance Management is conducted to check whether the employees of different skills and expertise deliver regulated performance at their jobs and complete the assigned task as managed by their supervisors. This paper describes about the performance appraisal techniques used in banking sector of Indian, more specifically in Delhi-NCR. More emphasis is laid on the 360 degree appraisal, and its effectiveness and effects on the private sector banks. Banking sector has been a pioneer in the overall development of Indian economy. In order to collect first hand data survey has been conducted among 50 senior private bankers randomly from different private sector banks located in Delhi-NCR. The study found that most of the bankers expressed their interest to implement 360 degree appraisal system. They further ascertain that the 360 degree appraisal system can be successfully implemented in Indian private banking sector.