<h1>Code on Resolution of Financial Firms to establish a statutory resolution framework alongside insolvency law, strengthening bank recovery measures.</h1> A statutory Code on Resolution of Financial Firms will be enacted to create a comprehensive resolution framework alongside the insolvency law. Complementary measures include statutory provision for a Monetary Policy framework and Monetary Policy Committee, establishment of a Financial Data Management Centre, development of new commodity derivative products, amendment of the SARFAESI Act to strengthen Asset Reconstruction Companies, strengthening computerized Debt Recovery Tribunals, and recapitalisation and consolidation measures for Public Sector Banks.