RASCI has been incorporated in October 2011, as a not-for-profit Public Limited Company under section 25 of the Companies Act. It has been funded by the Government Of India to function as the Apex Skill Development Council for the Retail Industry in India. RASCI functions as the National Occupational Standards setting body as well as a regulating & awarding body for assessments & certifications related to skill development for the retail Industry. Equity holders of RASCI include leading retail organizations like – RAI, Reliance Retail (Reliance Group), Trent (Tata Group), Pantaloon Retail (Future Group), Infinity Retail (Tata Group), Shopper’s Stop (K Raheja Group), Globus Stores (R Raheja Group) & Connaught Plaza Restaurants (McDonalds). RASCI works closely with the Ministry of Human Resource Development (MHRD), Ministry of Labour and Employment (MoLE) and the National Skills Development Corporation (NSDC) to translate the Skill Policy of India into reality. RASCI is authorised to jointly certify National Vocational Education Qualification Framework (NVEQF) with All India Council for Technical Education (AICTE) / Central Board of Secondary Education (CBSE) till the Post Graduation Level.