Keywords: Bank Nifty crash March 2026, HDFC Bank share price drop, RBI forex cap news, ICICI Bank 52-week low, SBI stock analysis, banking sector outlook India. The Current Crisis: Banking at the Center of the Storm As the financial year 2025-26 draws to a close today, the Indian banking sector is grappling with its worst monthly performance in four years. The Nifty Bank index has plummeted 16% since the West Asia conflict began in late February, with heavyweights like HDFC Bank and ICICI Bank hitting fresh 52-week lows this week. While the market is closed today, investors are dissecting a "Triple Whammy" that has left the sector reeling. 1. The RBI’s "Forex Hammer" (April 10 Deadline) The biggest domestic shock came after the RBI directed banks to cap their Net Open Position (NOP) in the dollar-rupee market at just $100 million (approx. ₹940 crore) by April 10, 2026. The Panic: Banks currently hold estimated arbitrage positions worth ₹2.5 to ₹3.7 trillion ....