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Informist, Wednesday, Apr. 29, 2026

MUMBAI – Care Ratings Ltd. will begin services as the Past Risk and Return Verification Agency from Monday, the Securities and Exchange Board of India said in a circular Wednesday. This follows a successful pilot run of the project, which began in December, with the National Stock Exchange acting as PaRRVA Data Centre.

The Securities and Exchange Board of India has tasked the agency to validate the returns claimed by investment advisers and research analysts. Investment advisers who want to communicate past performance to clients must enroll with the agency by Aug. 3. Advisers who do not enroll by the deadline will not be allowed to communicate certified past performance data to clients, the circular said. Investment advisers and research analysts may give past performance data to clients only up to May 3, 2028. 

A committee will oversee the activities of PaRRVA and the PaRRVA data centre. The committee will consist representatives of Care Ratings, NSE, amd intermediaries, and the chairperson will be an eminent individual with substantial regulatory experience. The committee will have minimum of 5 members and more members can be added as per the requirement of the agency.  End

Reported by Anshul Choudhary

Edited by Vandana Hingorani

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