Explanation:

The correct option is 3: 2024. 
• The Reserve Bank of India recently proposed that the single and group borrower limits of urban cooperative banks (UCBs) should be brought down and half the loans given should not be of more than Rs 25 lakh, while the priority sector lending targets should be raised steeply. • UCBs' target for priority-sector lending has been proposed at 75 per cent of their credit from 40 per cent now.
• The target has to be reached in phases - 50 per cent by March 2022, 60 per cent by March 2023, and 75 per cent by March 2024.
• The RBI proposed that the single and group borrower limits should be 10 per cent and 25 per cent, respectively, of a bank's tier-1 capital.