Which of the following statements about: UCBs undertaking insurance business is/ are correct?

• A.  No UCB should undertake insurance agency business without obtaining its prior permission
• B.  The Reserve Bank has allowed all primary (Urban) co-operative banks to undertake insurance business on a referral basis, without any risk participation through their network of branches
• C.  The banks need not obtain prior approval of the Reserve Bank to undertake referral business
• D.  All of the above
• E.  None of these