“A STUDY ON THE EFFECTIVENESS OF PERFORMANCE APPRAISAL IN MANAGERIAL EMPLOYEES OF THE LAKSHMI VILAS BANK LTD”
The Lakshmi Vilas Bank Ltd. located in Salem main road Kadhaparai, Karur. It was started on third November 1926 by seven board of directors with the paid of capital of 71000. The administrative office also has one of the regional office. It has 250 branches all over India.
Objectives of the study are to find out the satisfaction level for the performance appraisal system, to analyse the level of achievement of the objectives of performance appraisal system, to estimate the benefit of the performance appraisal system to the organization and to the individual.
The study is conducted by survey method using structured questionnaire with five point rating scale. Total population study was adopted. Data was analysed using simple percentage and chi-square test.
The study had been conducted to analyse the effectiveness of performance appraisal system on the managerial employees of the Lakshmi Vilas Bank Limited.
Effective performance appraisal method encourages employees in work and it also helps in improving their individual responsibility which in turn improves profitability of the organization.
The Lakshmi Vilas Bank Limited, Karur, came into being and was registered as a Limited concern on 3rd November 1926.
The bank started functioning with a paid up share capital of Rs.71,000/- made up of shares partly from the above promoters and largely from the public.
1/5th of the net profit declared every year was diverted towards reserve fund which is steadily build up. The increasing volume of deposits year after year is a sure indication of the bank’s place in the estimation of the investing public not only in Karur but also at the places where the bank branches are functioning.
All transactions of the bank are being conducted in such a way that a trust and confidence of both the borrowing and investing public have been completely ensured. Mere profit alone is not the end aim of the this Bank. Service to the public, creation of a feeling of trust and confidence in the depositors and selfless and impartial management have been the ideals the bank has set before it.
The management was also very particular in adhering to the directives issued by Reserve Bank of India from time to time on deposits and advances and other matters
Today the banks has 163 branches throughout Tamilnadu and also have extended its activities to other States like Andhra, Karnataka, Kerala and Maharashtra.