SEBI ·

India's SEBI operationalises PaRRVA with Care Ratings

Advisers must enroll to keep using certified performance claims

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India's SEBI recognised Care Ratings as PaRRVA, with NSE as data centre, from May 4, 2026.
Why it matters
Investment advisers and research analysts must route certified past-performance communication through PaRRVA. SEBI will end use of pre-PaRRVA performance data after May 3, 2028.
Implications
  • — Investment advisers and research analysts must enroll with PaRRVA by August 3, 2026 — missed enrollment blocks certified past-performance communication after the three-month window.
  • — Client-communication teams must remove pre-PaRRVA performance data after May 3, 2028 — only PaRRVA-verified risk and return metrics may be displayed.

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