The Securities and Exchange Board of India has operationalised the Past Risk and Return Verification Agency under the framework it set out on April 4, 2025. Following a pilot phase launched on December 8, 2025, PaRRVA will begin providing services on a regular basis from May 4, 2026. The move creates a mechanism for regulated entities to present verified performance data and gives investors access to that verified information. CARE Ratings Limited has been granted recognition as PaRRVA, with National Stock Exchange of India Limited acting as the PaRRVA Data Centre. The service will provide verified performance for investment advisory, research services and algorithmic trading, and regulated persons will be able to use PaRRVA-verified performance in advertisements in line with applicable regulatory provisions.
Securities & Exchange Board of India 2026-04-29
Securities and Exchange Board of India operationalises Past Risk and Return Verification Agency with services starting May 4 2026
The Securities and Exchange Board of India has operationalised the Past Risk and Return Verification Agency framework, with CARE Ratings Limited recognised as PaRRVA and National Stock Exchange of India Limited designated as the PaRRVA Data Centre. From May 4, 2026, PaRRVA will provide verified performance data for investment advisory, research services and algorithmic trading, which regulated entities may use in advertisements subject to regulations, giving investors access to independently verified performance information.