Explanation:

- The Union Budget for 2020-21 increased the deposit insurance coverage for bank deposits.

- This coverage is the amount insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) on customer deposits.

- Option 1: 1 lakh - Previously, the insurance coverage was set at Rs 1 lakh per depositor.

- Option 2: 2 lakh - This was not the revised coverage amount in the 2020-21 budget.

- Option 3: 5 lakh - The coverage was increased to Rs 5 lakh per depositor, providing more security to bank customers.

- Option 4: 3 lakh - This amount was not part of the budget revision.