CARE Ratings, in collaboration with the National Stock Exchange of India (NSE), has officially launched the Past Risk and Return Verification Agency (PaRRVA), a pioneering initiative aimed at enhancing transparency in the Indian securities market. This platform, conceptualized by the Securities and Exchange Board of India (SEBI), was initially piloted in December 2025 by SEBI Chairman Tuhin Kanta Pandey. As India's investor base expands, PaRRVA is positioned to play a crucial role in ensuring transparent communication of performance verification. The platform independently validates risk-return metrics for investment advisors, research analysts, and trading members, thereby enhancing credibility, compliance, and investor trust. It will compute nearly 50 different risk and return matrices from transaction data sourced directly from stock exchanges and clearing corporations, which will be made available to investors. Users can access these reports through secure API integration or by scanning a QR code that links to the official PaRRVA portal.