SEBI Launches PaRRVA To Verify Past Returns And Protect Indian Investors

India’s market watchdog Securities and Exchange Board of India (SEBI) has launched a first-of-its-kind agency — Past Risk and Return Verification Agency (PaRRVA) — to provide independently verified past-performance data for investment advisers, research analysts and other intermediaries. The move aims to curb misleading return claims by unregistered “finfluencers” or shady intermediaries, and enable genuine SEBI-registered professionals to showcase real, verified track records with full transparency. Under PaRRVA’s standardised verification framework (in collaboration with eligible credit rating agencies and stock exchanges acting as data centres), risk-return metrics will be audited and made available — giving investors a credible basis to assess advisors before committing funds. By making verified performance data publicly accessible, SEBI hopes to reduce investor reliance on flashy, unverified past-success stories and promote more informed, responsible investing.