Intermediaries submit recommendations via secure APIs or files; PaRRVA validates them, calculates 50 indicators, and provides investor-accessible reports
New Delhi
India’s Securities and Exchange Board (SEBI) has launched a new platform called PaRRVA — the Past Risk and Return Verification Agency — aimed at giving investors clear, trustworthy information about the performance of financial intermediaries. SEBI Chairperson Tuhin Kanta Pandey said the initiative will help both investors and regulated entities by offering credible, independently verified performance data.
PaRRVA is being introduced as a pilot and is described as the first global system designed to verify risk-return metrics for investment advisors, research analysts, and trading members. Pandey said transparency is the foundation of healthy markets, and the new platform strengthens SEBI’s commitment to fairness and order in India’s financial system. According to him, PaRRVA will bring greater clarity to performance claims and help investors make more confident decisions.
National Stock Exchange (NSE) MD and CEO Ashishkumar Chauhan called the initiative an important step toward improving standardisation and trust. NSE is supporting the effort by hosting the PaRRVA Data Centre, which uses verified market data to check the accuracy of risk and return numbers.
Intermediaries can upload their recommendations through secure APIs or files, after which PaRRVA validates them and produces detailed performance metrics. Nearly 50 different indicators are calculated using transaction data from exchanges and clearing corporations. These reports can be accessed by investors either through a QR code or via the official PaRRVA website.
The platform also helps stop misleading claims by preventing selective presentation of returns and ensuring all data is backed by proper disclosures. Its secure system, combined with T+1 verification for portfolios and end-of-day checks for intraday strategies, aims to offer both speed and accuracy.