Enterprise risk management in improving sustainability of banking business in India

The globalised and liberalised business environment in the present era has witnessed several catastrophes ranging from frauds and scandals to global financial crisis. This has brought to light that, risk management, has utmost significance in the economic, finance and banking sectors. The governments, policy makers, businesses and stakeholders have to be conscientious in dealing with various types of risk and prescribe ways to mitigate such risks. The current paper attempts to identify the typology of risks associated across functional areas in the banking sector and presents the most important findings on the same as well as suggests ways to mitigate risks in the identified areas.