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

Other Historical Dates and Events
1/3/1880	Publication of 'Illustrated Weekly of India' started.
2/23/1997	Justice J. S. Verma appointed Chief Justice of India.
6/27/1894	Chhaganbapa (Chhaganlal Karamshi Parekh), great social worker, was born.
12/10/1907	Rudyard Kipling, author of `The Jungle Book' and `Kim', received the Nobel prize for literature.
2/28/1835	Medical College was started in Calcutta and it was officially opened on Feb 20.
10/18/1928	Roshan Harshadlal "Deepak" Shodhan, cricketer (century on Test debut for India), was born in Ahmedabad.
2/12/1993	The baggage rules relaxed further.
3/7/2000	A. Madhava Reddy, Andhra Pradesh Panchayati Raj Minister, dies in a landmine blast at Ghatkesar village in Ranga Reddy district.
10/31/1994	26 die as cyclone lashes Tamil Nadu.
6/1/1927	Justice Savyasachi Mukherjee 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\%.