<h1>Report Recommends New Resolution Regime for Indian Financial Institutions; Proposes Independent Authority and Early Intervention Framework.</h1> A high-level Working Group, formed by the Financial Stability and Development Council, has submitted a report recommending a strengthened resolution regime for Indian financial institutions. The report suggests creating a comprehensive legal framework and establishing a single Financial Resolution Authority independent of regulators and the government. It also proposes an early intervention mechanism through a Prompt Corrective Action framework. These measures aim to align with international best practices and the Financial Stability Board's guidelines. Public comments on the report are invited until May 31, 2014, via email or post to the Reserve Bank of India.