  The superluminal X-ray transient source GRS 1915+105 was observed during July
20-29, 1996 with the Indian X-ray Astronomy Experiment (IXAE) on the Indian
satellite IRS-P3 launched on March 21, 1996 from Shriharikota Range in India.
During our observations covering the energy band 2-18 keV, we have seen strong
erratic intensity variations on time scale of 0.1s - 10s. Quasi Periodic
Oscillations (QPOs) in a frequency range of 0.62 to 0.82 Hz were detected with
a rms fraction of about 9%. The rapid X-ray intensity variations in GRS1915+105
are similar to those observed in some other black hole binaries and thus
provide further support for the hypothesis that this source is likely to be a
black hole. We discuss the possible emission region and mechanism of the
observed quasi-periodic oscillations. Comparing the observed QPOs with the ones
observed in other neutron star and black-hole systems, we argue that
GRS1915+105 is possibly a black-hole.
