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

Other Historical Dates and Events
3/8/1673	Chhatrapati Shivaji Maharaj conquered the fort of Panhala.
2/12/1871	Charles Freer Andrews, great social worker, humanitarian, leader and a true friend of India, was born in New-Castle-on-Tyne in U.K.
6/1/1959	The Chinese occupy Tibet and Dalai Lama flees to India.
9/29/1914	German cruiser Emden shells Madras.
5/5/1972	Loknathan P. S., great economist, passed away.
3/25/1911	L. D. Swamikannu publishes ""Manual of Indian Chronology"" in Bombay.
2/27/1993	Rupee made fully convertible in Man Mohan Singh's third successive budget.
6/12/1897	Possibly the most severe quake in history strikes Assam, shock waves felt over an area size of Europe (negligible death toll).
11/11/1947	Temple of Vithoba in Pandharpur opened for Harijans. Ganpatrao Tapase was the first harijan to enter the temple.
10/13/1998	Salman Khan, Hindi film actor who was arrested on charges of killing protected wild animals near Jodhpur, is remanded to the custody of the Forest department.

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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\%.