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

Other Historical Dates and Events
7/10/1997	Fijian Senate approves new Constitution that removes radical restrictions on political power of Indian community, which makes up almost half the population.
1/5/1982	C. Ramchandra (Chitalkar), famous music director, died.
7/2/1999	Sahara India, sponsor of the Sahara Cup annual cricket series between India and Pakistan in Canada, withdrew sponsorship in view of the Kargil conflict.
5/26/1993	The Centre decides to implement the Mandal Commission recommendation to provide 27\% reservation for the socially and educationally backward classes in the Central Services from 15th June.
4/16/1997	Anupama Gokhale wins National women's `A' chess in Calcutta.
3/11/1975	Battle between Marathas and Nizam at Kharda.
12/28/1931	The second round of a British-Indian conference on the political future of India collapsed in disagreement over demands by Indian nationalists for complete independence. The British government had seemed willing to grant a limited dominion status. But Mahatma Gandhi, who had come to the conference to present the demands of the All-India Nationalist Congress, refused to accept anything less than complete independence. The breakdown of the talks set off a new round of disorders, Gandhi was greeted by rioting in the streets of Bombay between upper-caste Hindu members of the Congress party and ""untouchable"" caste members who had turned against him.
10/23/1934	Gandhi resigns as leader of the All India Congress.
7/26/1994	Government rejects JPC report on securities scandal.
2/4/1953	Indo-Pak talk on Kashmir opened under Dr. Graham in Geneva.

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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\%.