{"id":5711,"date":"2026-05-04T00:12:03","date_gmt":"2026-05-04T00:12:03","guid":{"rendered":"https:\/\/bhatiabhola.com\/?p=5711"},"modified":"2026-05-04T00:12:04","modified_gmt":"2026-05-04T00:12:04","slug":"sebi-circular-dated-29-04-2026-operationalisation-of-past-risk-and-return-verification-agency-parrva","status":"publish","type":"post","link":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/04\/sebi-circular-dated-29-04-2026-operationalisation-of-past-risk-and-return-verification-agency-parrva\/","title":{"rendered":"SEBI Circular Dated 29\/04\/2026 &#8211; Operationalisation of Past Risk and Return Verification Agency (PaRRVA)\u00a0\u00a0"},"content":{"rendered":"\n<p>SEBI has operationalised the Past Risk and Return Verification Agency (PaRRVA) framework. CARE Ratings Limited has been recognised as PaRRVA, with National Stock Exchange of India Limited acting as the data centre. The framework mandates that regulated entities must enrol with PaRRVA within three months to continue communicating certified past performance, failing which such communication will be prohibited. Further, after two years, only PaRRVA verified performance metrics may be disclosed, disallowing reliance on pre-operational data.\u00a0<\/p>\n\n\n\n<p><a href=\"https:\/\/www.sebi.gov.in\/legal\/circulars\/apr-2026\/operationalisation-of-past-risk-and-return-verification-agency-parrva-_101185.html\"><em>(Link: SEBI Circular Dated 29\/04\/2026)<\/em><\/a><em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SEBI has operationalised the Past Risk and Return Verification Agency (PaRRVA) framework. CARE Ratings Limited has been recognised as PaRRVA, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[52,57],"tags":[],"class_list":["post-5711","post","type-post","status-publish","format-standard","hentry","category-sebi","category-circulars-sebi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEBI Circular Dated 29\/04\/2026 - Operationalisation of Past Risk and Return Verification Agency (PaRRVA)\u00a0\u00a0 - Bhatia Bhola &amp; Associates LLP<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/04\/sebi-circular-dated-29-04-2026-operationalisation-of-past-risk-and-return-verification-agency-parrva\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEBI Circular Dated 29\/04\/2026 - Operationalisation of Past Risk and Return Verification Agency (PaRRVA)\u00a0\u00a0 - Bhatia Bhola &amp; Associates LLP\" \/>\n<meta property=\"og:description\" content=\"SEBI has operationalised the Past Risk and Return Verification Agency (PaRRVA) framework. CARE Ratings Limited has been recognised as PaRRVA, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/04\/sebi-circular-dated-29-04-2026-operationalisation-of-past-risk-and-return-verification-agency-parrva\/\" \/>\n<meta property=\"og:site_name\" content=\"Bhatia Bhola &amp; Associates LLP\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-04T00:12:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-04T00:12:04+00:00\" \/>\n<meta name=\"author\" content=\"Yash Bhola\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yash Bhola\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/04\/sebi-circular-dated-29-04-2026-operationalisation-of-past-risk-and-return-verification-agency-parrva\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/04\/sebi-circular-dated-29-04-2026-operationalisation-of-past-risk-and-return-verification-agency-parrva\/\"},\"author\":{\"name\":\"Yash Bhola\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c\"},\"headline\":\"SEBI Circular Dated 29\/04\/2026 &#8211; 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