Bank Nifty slips 2.3% ahead of RBI policy

The Bank Nifty has slumped 2.3% to 16,702, and the PSU Bank index has tumbled nearly 3.4% to131.

Banking stocks have fallen all eyes are set at the RBI fourth bi-monthly monetary policy review for the year 2015-16 scheduled today at 11 AM.

The Bank Nifty has slumped 2.3% to 16,702, and the PSU Bank index has tumbled nearly 3.4% to131.

PNB has tanked 3.5 percent at Rs. 169.

Syndicate Bank, Andhra Bank, Orient Bank, SBI, Union Bank and Canara Bank are all down over 3 percent each.

Meanwhile, the Sensex has crashed 307 points to 25,309.