Government of Kerala pioneered State Level Public Enterprise restructuring in India. Close on the heels of liberalization and Industrial Policy of 1991, RIAB was constituted in 1994 with the late Dr. V. Rajagopalan as its founder Chairman.
RIAB executes the public enterprise reforms sub-theme of the Modernizing Government Programme and propagates good governance practices in association with the Commonwealth Secretariat, Commonwealth Association for Corporate Governance, Asian Development Bank, Government of Netherlands, Global Corporate Governance Forum, United Nations Development Programme and the Academy of Corporate Governance. RIAB also manages a special purpose Vehicle for fund management during the transition phase of Reforms.
