Dear student,
The above statement "The part of the Peninsular plateau lying to the north of the Narmada river, covering a major area of the Malwa plateau, is known as the Central Highlands" is True.
Central Highlands lie to the north of the Narmada river and are bounded by the Aravali mountains, Vindhya range, Malwa and Chotanagpur Plateau.
Regards.