Securities and Exchange Board of India (SEBI) operationalises PaRRVA framework for performance verification

Exam-focused facts from the 1 May 2026 current affairs briefing.

Key facts

The Securities and Exchange Board of India (SEBI) has operationalised the Past Risk and Return Verification Agency (PaRRVA) framework to standardise the reporting and verification of investment performance.
Care Ratings has been recognised as the first PaRRVA, and the National Stock Exchange (NSE) will serve as the PaRRVA Data Centre (PDC).
The PaRRVA platform is scheduled to go live on May 4.
Investment Advisers (IAs) and Research Analysts (RAs) are required to enrol with PaRRVA by August 3 to continue sharing certified past performance with clients.
After May 2028, only PaRRVA-verified risk and return metrics can be communicated, and historical performance data from the pre-PaRRVA period will no longer be permitted in client communication.