The announcements were made as part of the RBI's Statement on Developmental and Regulatory Policies released alongside the monetary policy decision. The announcements were made as part of the RBI's Statement on Developmental and Regulatory Policies released alongside the monetary policy decision. After analysing the feedback received from stakeholders, the RBI has decided to resume licensing of UCBs on an 'on-tap' basis. Separately, the RBI proposed to rationalise its regulatory framework on interest rates on advances for all regulated entities on a principle-based basis. The regulatory announcements came during the RBI Governor's address on Wednesday following the Monetary Policy Committee's (MPC) meeting.