Agriculture sector is susceptible to multiple sets of risks such as disasterDisaster, climate, pest, disease, institutional, market and policyPolicy risk. Developing resilienceResilience strategies in a risk-prone area is a difficult task. A multiple risk management approach requires to develop resilienceResilience strategies. Assessment of vulnerabilities, hazards, and risks is crucial for risk management, and it also contributes to resilienceResilience building. The intensity and severity of the impact of a disasterDisaster depend on the vulnerability and resilienceResilience of a place, communityCommunity, or individual. Farmers are particularly vulnerable to severe weather conditions like drought and floodingFlooding. To some extent, though, the community is able to adjust and cope with disaster-like circumstances. The agricultural community is equally affected by the same dangers, despite having varying levels of vulnerabilityVulnerability and resilienceResilience. Community-based disasterDisaster risk reduction (CBDRR)CBDRR is a tool that studies, understand, and assesses the vulnerabilityVulnerability, risk and resilienceResilience factors incorporated with community participation. This article is based on a case study of Borda village in the Kalahandi district. The study has adopted a quantitative and exploratory case study. A descriptive statistical analysis of 201 households discussed various socioeconomic, land, assets, credit, and insurance parameters. The paper also discusses regional vulnerabilities, risk and resilienceResilience factors from farmers’ and community perspectives. It is found that droughts occur almost every alternative year in the village. Nearly ninety percent of households are indebted and have taken loans from financial institutions. It is also found that the insurance claims are not compensated for crop loss due to disasterDisaster even after several complaints were filed. The study recommends implementing and utilizing various risk management tools concerning community participation.