Question

In June 2020, the Central government approved an Ordinance to bring all urban and multi-state cooperative banks under the direct supervision of RBI. In 2021 RBI appointed a committee that suggested tier structure for the UCBs. which of the following is not correct?

A Tier 1 with all unit UCBs and salary earner’s UCBs (irrespective of deposit size) and all other UCBs having deposits up to Rs 100 crore
B Tier 2 with UCBs of deposits between Rs 100 crore and Rs 1,000 crore
C Tier 3 with UCBs of deposits between Rs 1,000 crore and Rs 10,000 crore
D Tier 4 with UCBs of deposits more than Rs 10,000 crore.
E Tier 5 with UCBs of Deposits more than Rs 10,000 crore with deposited income of 10,000 crore
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