Question :
In June 2020, the Central Government approved an Ordinance to bring all urban and multi-state cooperative banks (UCBs) under the direct supervision of the RBI. In 2021, the RBI appointed an expert committee to examine and suggest a revised regulatory framework, including a tier-based structure for UCBs. Which of the following tier classifications is not correct as per the RBI's proposed structure?
1. Tier 1: All unit UCBs and salary earners' UCBs (irrespective of deposit size), and all other UCBs having deposits up to ₹100 crore
2. Tier 2: UCBs with deposits between ₹100 crore and ₹1,000 crore
3. Tier 3: UCBs with deposits between ₹1,000 crore and ₹10,000 crore
4. Tier 4: UCBs with deposits more than ₹10,000 crore
5. Tier 5: UCBs with deposits more than ₹10,000 crore and deposited income of ₹10,000 crore
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