The Union Cabinet on 05 April 2017 approved the formation of an independent Rail Regulatory Authority (RDA). Which statement is correct regarding Railway Regulatory Authority?

• A. This authority will fix the fare rates and ensure that equal business opportunities are available to the private sector units willing to invest in the Railways.
• B. Apart from the chairman, the committee will have three members, whose term will be for five years.
• C. 50 crore has been initially earmarked for the establishment of the institution.
• D. All of the above