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

Other Historical Dates and Events
5/13/1971	General Insurance nationalized.
12/21/1929	Indian National Congress convenes in Lahore.
1/10/1953	Opening ceremony of Centre for Scientific and Industrial Research held.
1/1/1995	8th World Tamil Conference begins in Madurai.
8/3/1985	Ramon Magsaysay Award for Public Service goes to Baba Amte.
8/21/2000	Uma Bharti, the sanyasin Member of Parliament of the BJP, resigns from the Lok Sabha and the party's national executive comittee.
5/20/1992	V. Prabhakaran, LTTE supremo, heads the list of 41 accused in the SIT chargesheet.
9/5/1888	Dr. Sarvepalli Radhakrishnan (1888-1975), panentheist, great renaissance philosopher, eminent writer, free India's first vice-president and second president, was born at Tiruttani near Madras.
1/7/1997	Jaspal Rana bags six gold medals in the men's standard pistol and air pistol and set two more records on the penultimate day of the National shooting.
9/6/1996	CBI arrests four Jharkhand Mukti Morcha leaders in bribery case.

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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\%.