Banks hit 3-1/2 month low on global risk aversion

MUMBAI (Reuters) - The Bank Nifty fell as much as 2 percent to its lowest since October, heading towards a sixth consecutive losing session, as part of a rout in emerging markets.

Banks have been among the worst hit this week after the Reserve Bank of India unexpectedly raised interest rates.

Falls were led by ICICI Bank , which lost 2 percent, and HDFC Bank , which was down 1.6 percent.

The Nifty was down 1 percent.

(Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)