Which organization has operationalized the Past Risk and Return Verification Agency (PaRRVA)?

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The correct answer is Option B: Securities and Exchange Board of India. Securities and Exchange Board of India has operationalised the Past Risk and Return Verification Agency (PaRRVA) to verify financial performance claims. PaRRVA will become fully functional from 4 May 2026, after a pilot phase launched in December 2025. The core objective of PaRRVA is to provide accurate, transparent, and verified performance data to investors. PaRRVA aims to reduce misleading performance claims and enhance investor protection in financial markets. The system improves market transparency, accountability, and informed investment decision-making. CARE Ratings Limited has been designated as the official PaRRVA agency for verification functions. National Stock Exchange of India Limited will act as the PaRRVA Data Centre (PDC) for data storage and validation. PaRRVA allows regulated entities to submit past risk-return data for authentication and standardisation.

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Reserve Bank of India

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NITI Aayog

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Insurance Regulatory Authority of India

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Ministry of Finance

Which organization has operationalized the Past Risk and Return Verification Agency (PaRRVA)?

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Which organization has operationalized the Past Risk and Return Verification Agency (PaRRVA)?

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