Newcastle United head coach Eddie Howe.
James Maddison fell to ground under a challenge from Jamaal Lascelles after the Magpies tried to play out from the back.
Howe feels had Bankes checked with VAR, he might have viewed the decision to award Leicester a spot-kick differently.
United legend Alan Shearer tweeted ‘dive’ in response to Maddison.
‘Contentious moments in the match’
“I don’t believe the scoreline was reflective of the game,” Howe said.
“We were competitive and I think the penalty had a huge bearing on the game. I don’t think it was a penalty, in my opinion. Maddison is going over before the contact is made.
“I am disappointed the referee didn’t go over and have a look at it himself. I think that would have been the best decision for him to make, because it was obviously a contentious moment in the match.”
‘Big bearing on the game’
Howe continued: “You need results. We are well aware of the position we find ourselves in. Reflecting on it, I think there were some good things about today. There were obviously things that weren’t so good.
“We had a lot of good ball around their box, we had a lot of opportunities to create, but our final ball and final decision wasn’t quite right to open them up. That was the difference.
“Defensively, Leicester didn’t really have any concerted pressure in the game. They scored four goals due to some poor defensive moments.
“I think at 0-0 the game was very much there for us to win, but I do think the penalty has a big bearing on the game.”