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Synopsis Financial markets have always been risk-driven to a certain extent and there has been an underlying risk taking perception in financial markets, and banking also has this norm. The aim has been to maintain commensurate returns with respect to the risk taken. However, the risk scenario has changed considerably over the last two decades as a result of increasing complexity in the deals made and the varied nature of the financial instruments used. In the Indian context, the Reserve Bank of India (RBI) has issued guidelines based on the Basel II recommendations for the Indian banks on the risk management approaches to be followed in due course. In the current scenario, where banking is becoming more and more competitive, adoption of the best practices is critical for the Indian banks to survive in the market. There has to be a proactive approach in countering major credit, operational and market risks. The banks that develop a proper risk management system will gain competitive advantage over others and with a proper understanding of the risk mitigation techniques and instruments can aim at better prospects in the years to come. In this context, this book, The Icfai University Press on Risk Management in Banks: Current Developments will make useful reading capturing the important perspectives of risk management and its practices in the banking sector. The book presents a series of well-written articles that bring out the essence of the happenings in the field.