Saraswat Bank to Acquire Fraud-Hit New India Co-operative Bank

Imagine a big bank, Saraswat Bank, is helping a smaller bank, New India Co-operative Bank, that had some problems.

Someone at the smaller bank took money they shouldn't have.

Now, Saraswat Bank is going to take over the smaller bank to help the people who put their money there.

This means the people who put money in NICB can now get their money back.

The big bank says it will ensure the people are protected, and hopes to have the deal done by the end of summer.