Reuters Market Eye - The BSE Sensex falls over 1 percent after the RBI's measures to curb the rupee's slide are seen hurting growth, tightening liquidity and lowering the likelihood of rate cuts in the medium term, dealers say.
The BSE Sensex is down 1.17 percent and the Nifty is down 1.32 percent.
Shares in India's financial firms fall. IDFC slumps 6 percent, while Housing Development Finance Corp is down 4 percent.
Among banks HDFC Bank is down 2.8 percent while ICICI Bank slips 5.3 percent.
(Reporting by Abhishek Vishnoi)