RIAB, constituted in 1994, executes State Owned Enterprise Reform Initiatives. It has worked in association with National and International Agencies such as Commonwealth Secretariat, Commonwealth Association for Corporate Governance, OECD, Global Corporate Governance Forum, UNDP,Royal Netherlands Embassy and the Academy of Corporate Governance. RIAB also carries out macro level fund management, monitoring and performance management of SOEs and monitoring and performance management of SOE and implements technology based initiatives like that with ONDC for benefitting the State-owned enterprises.

Mission

Implement Corporate Strategic Plans based on health classification of PSUs and make them accountable to the Government through MoUs / Performance Contracts by 2023. Enhance the Beneficiary coverage of PSUs in the Welfare and Traditional Sectors by 2024. Increase the Turnover of PSUs and make all PSUs profitable by 2025.

Activities-RIAB

Appraisal of Projects of PSUs and placing before Working Groups for budgetary support.
Facilitate release of budgetary funds and monitor plan progress.
Provide support for Master Plan project implementation through a specialized team.
Monitoring implementation of projects using PMS and 100 days programme portal.
Implementation of Technical Assistance programmes (carried out programmes with UNDP, RNE and COMSEC).
Managed Kerala Industrial Revitalization Fund.
Monthly Performance Monitoring.
Monitor Audit Completion.
Capacity building of Board Members and Senior Management in Corporate Governance.
Training for various levels in PSUs.
Work related to utilisation of excess land in PSUs for creation of SMEs in collaboration with DI&C.
Carryout enquiries and fact-finding audits as required by the Government.
Works related to take-over of PSUs.
Introduction of MoU System in PSUs.
Institution of awards to Best Performing PSUs, MDs, Officers, Employees and Reports in Print & Visual media.
Industry-Academia linkages for R&D and Performance Management.
Broad-based implementation of ERP in collaboration with Digital University, Kerala.
Develop e-Commerce Platform for Traditional Sector Industries in collaboration with Digital University, Kerala.