NSE-CareEdge Ratings commercially launches PaRRVA, a standard framework for investment performance verification

CARE Ratings Limited, in collaboration with the National Stock Exchange of India Limited (NSE), today announced the commercial launch of Past Risk and Return Verification Agency (PaRRVA), a first-of-its-kind global initiative conceptualised by SEBI. In December 2025, SEBI Chairman Shri Tuhin Kanta Pandey launched the pilot project.

As India's investor base continues to grow, PaRRVA is well-positioned to become a key enabler of transparent communication of performance verification in the securities market. This unique framework validates risk-return metrics for Investment Advisors, Research Analysts, and Trading Members, thereby ensuring greater credibility, compliance, and investor trust.

PaRRVA is designed to bring transparency and standardisation to performance claims made by financial intermediaries. It ensures that all risk-return metrics presented to investors are independently verified and compliant with the verification methodologies developed in line with recommendations from Industry participants.

Intermediaries can submit their recommendations through secure API-based integration or file uploads, following which PaRRVA - PDC conducts a comprehensive validation and generates risk and return metrics. Close to 50 different risk and return matrices are computed from transaction data directly sourced from stock exchanges and clearing corporations and will be disseminated to investors via the PaRRVA platform. Investors can also view the reports by scanning the QR code or by using a link that directs them to the official PaRRVA portal.

The operationalisation of PaRRVA reaffirms SEBI's unwavering commitment to keep India's securities markets fair, transparent, orderly and resilient. NSE is pleased to support this initiative by providing the PaRRVA Data Centre (PDC), enabling the framework to leverage authenticated market data for robust risk and return verification. PaRRVa will provide investors with credible performance data related to investment services offered to them. For regulated entities, PaRRVA will provide a platform to showcase genuine performance to investors," said Ashish Chauhan, MD & CEO, NSE.

Speaking on the occasion, Mehul Pandya, MD and Group CEO, CareEdge, said, "PaRRVA represents a significant advancement in enhancing trust, discipline, and transparency across the financial advisory ecosystem. At a time when investors increasingly demand credible and comparable performance information, PaRRVA's independent validation framework is designed to deliver accurate, standardised, and unbiased disclosures. With its commercial launch, this initiative reaffirms our commitment to strengthening market integrity, promoting best practices, and equipping investors with reliable data to support informed decision-making."

PaRRVA strengthens compliance by preventing selective returns presentation, avoiding client-specific claims, and ensuring that every metric is backed by the required disclosures. The platform's secure data architecture, along with T+1 portfolio validation and end-of-day checks for intraday strategies, helps maintain both accuracy and speed.

Shares of CARE Ratings Limited was last trading in BSE at Rs. 1694.85 as compared to the previous close of Rs. 1667.05. The total number of shares traded during the day was 1724 in over 430 trades.

The stock hit an intraday high of Rs. 1725.00 and intraday low of 1680.00. The net turnover during the day was Rs. 2926868.00.

Source : Equity Bulls

Keywords

CARERatings INE752H01013 FinancialServices NSE PaRRVA