Bank shares gain on hopes

Bank shares gain on hopes for CRR cut -

Banking shares reverse earlier losses on rising hopes of twin cuts in the repo rate and the cash reserve ratio at the RBI meeting on June 18.

Data showing industrial output grew a weaker-than-expected 0.1 percent in April from a year earlier, adds to the case of more aggressive action from the RBI, traders say.

Inflation data on Thursday will be key: a Reuters poll shows WPI likely accelerated 7.60 percent in May from a year ago, the fastest pace this year.