Sensex falls more than 300 points; banks hit

Mumbai: The BSE Sensex posted its biggest fall since May 2012 as bank shares such as ICICI Bank fell a day after RBI data showed loan growth was still a concern and on weakness in global shares due to worries over Fed slowing its bond buying program.

ICICI Bank shares fell 3.74 per cent while State Bank of India was down 1.84 per cent.

The BSE Sensex fell 1.62 per cent, posting its biggest daily fall since 16 May, 2012 when the index fell 1.8 per cent.

The 50-share Nifty slips 1.53 per cent.