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

Other Historical Dates and Events
9/24/1992	India's Leander Paes defeats Britain's Jeremy Bates in the Davis Cup tie in New Delhi.
3/25/1898	Swami Vivekanand accepted Sister Nivedita as his disciple.
6/18/1658	Aurangzeb managed to capture the Agra Fort and later arrested his father Emperor Shahjahan.
6/5/1994	India test-fires a missile capable of reaching targets in China.
3/17/1955	Indian Standard's Institute started working to control the quality of Indian products and the ISI mark was issued to quality products.
8/13/2000	The Government announces the opening up of the national long distance communication segment with no restriction on the number of players.
12/19/1919	Sunil Kumar Banerjee, cricket Test Umpire for 1 test from 1963-64, was born at Bengal.
1/8/1906	Howrah Railway Station, Calcutta, was inaugurated.
1/12/1992	Kumar Gandharva (Shivputra Siddharamaiya Komkali), famous Classical singer, passed away at the age of 67.
10/29/1935	Narendra Kumar Chhajerh, great industrialist, was born.

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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\%.