• Dr. Hema Doreswamy
• Dr. Madhavi Lokhande
• Prof. Radhika Uttam

Risk is an integral part of the business, and it can hurt the business performance severely if cohesive risk management framework is not in place. Risk comes from various quarters – internal, external, financial, strategic, compliance and so on. Risk management as a function is in existence since 1950s and it is evolving since then. Businesses are dynamic and as and when conditions change the risk proposition too changes and hence risk management processes too need to become contemporary. In the beginning, risk management was restricted only to usage of insurance products. To manage finance risk like exchange rate fluctuations use of derivatives was introduced. Operational risk and strategic risk too were recognized later, and integrated risk management process came into picture which advocated for collating different risks under one risk management framework and link it to mission of the business. COSO (2004), introduced a comprehensive framework, enterprise risk management (ERM) which endorses integrated risk management process. Businesses across the globe are embracing this integrated risk management to manage and mitigate potential risks. It also helps in identifying potential business opportunities (upside risk). This research is conducted to investigate the current state of risk management processes in Indian scenario by considering Nifty 50 companies.

Integrated risk management, Enterprise risk management, Upside risk and Downside risk, COSO framework, Insurable risks, Derivatives.

"A Study on Integrated Risk Management Framework in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.9, Issue 1, page no.c571-c597, January-2022, Available :http://www.jetir.org/papers/JETIR2201275.pdf

"A Study on Integrated Risk Management Framework in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.9, Issue 1, page no. ppc571-c597, January-2022, Available at : http://www.jetir.org/papers/JETIR2201275.pdf