India, May 4 -- CARE Ratings in collaboration with the National Stock Exchange of India (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 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...