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Historical Event on 7/1/1996
RBI reduces cash reserve ratio to 12\%.

Other Historical Dates and Events
11/29/1989	Voters oust Gandhi and Congress party
5/21/1966	General Election (11th) of India ends.
8/18/1958	Dr.Bhagwandas, famous Congress leader and theosophist, died.
7/15/1991	Jagannathrao Joshi, veteran leader of Janata Party `Karnataka Kesri', died.
3/31/1843	Balwant Pandurang Kirloskar (Annasaheb), first musical playwright of Marathi, was born.
7/6/1992	R. Janakiraman Committee estimates involvement of Rs. 3543 crore in the security scam.
4/1/1992	The 79,698 crore Eighth Plan launched.
3/12/1913	Yashvantrao Balvantrao Chavan, first Chief Minister of Maharashtra, was born.
2/7/1995	Cong-I Disciplinary Action Committee expels Arjun Singh from the primary membership for 6 years for anti-party activities.
2/10/1691	Job Charnock established the first English factory in Calcutta.

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Historical Event on 7/1/1996 RBI reduces cash reserve ratio to 12\%.

Historical Event on 7/1/1996
RBI reduces cash reserve ratio to 12\%.