Human Resource Development (HRD) climate facilitates proper implementation of HRD systems in an organization. The present study is aimed at assessing the extent of HRD climate prevailing in selected Private Sector Banks in Punjab. This study has been carried out on the basis of the information collected from employees working in 6 major private sector Banks running their operations in Punjab. On the basis of information collected and results obtained, it has been found that average/moderate HRD climate is prevailing in selected Private Sector Banks. In comparison, it has been found that better OCTAPAC values (Openness, Confrontation, Trust, Authenticity, Pro-activity, Autonomy, Collaboration, Experiment) culture is prevalent than HRD mechanism and general HRD climate in the Selected Private Sector Banks. It is suggested on the basis of research evidence that, the top management of the banks should enrich the banks policy in enhancing the physical, mental and emotional capabilities of the individuals for creating and maintaining better HRD Climate. The Managers and officers staying in the banks should have been motivated, encouraged and inspired to accept challenges. A favorable HRD climate also contributes for the retention of the workforce. Private sector banks have been seriously exposed to the problem of HR Mobility.