CARE Ratings and NSE launch PaRRVA to verify risk-return reporting
CARE Ratings and the National Stock Exchange (NSE), with SEBI's backing, have rolled out the PaRRVA framework, a new system that double-checks if investment advisors, research analysts, and trading members are honest about their risk and return numbers.
The pilot kicked off in December 2025 with SEBI Chairman Tuhin Kanta Pandey leading the charge.
PaRRVA computes nearly 50 risk-return metrics
PaRRVA pulls real transaction data from exchanges to crunch nearly 50 different risk and return stats.
Advisors upload their numbers, which get verified for accuracy through compliance checks and daily reviews, even for intraday trades.
As NSE Managing Director and CEO Ashish Chauhan puts it, this move "strengthen transparency in performance reporting and allow regulated entities to present verified data based on authenticated market inputs," making things clearer for everyone.
You can check these verified results yourself at www.careparrva.com using direct links or QR codes, so you don't have to just take anyone's word for it.