objcopy.exe -B ARM reports error "objcopy: architecture ARM unknown" in latest versions.

I see that in the latest version of objcopy (GNU objcopy (GNU Binutils) 2.29.1.20171006), I get an error saying "objcopy: architecture ARM unknown"
This is working only with the version GNU objcopy (GNU Binutils) 2.21
Can you please confirm what are the supported BFD architectures for the -B option in the latest objcopy version.

Working cmd:
objcopy.exe -I binary -B ARM -O elf32-littlearm --set-section-flags .data=alloc,readonly,code example.bin example.o

On using the objcopy without -B option, the armlink says its not able to recognise the fileformat. Hence, the usage of -B option is needed.