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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