The results of X-ray observations of Galactic superluminal jet source GRS
1915+105 during its low luminosity state and state transitions in October, 1996
- April, 1997 with PCA and HEXTE instruments aboard Rossi X-ray Timing Explorer
(RXTE) are reported. Except some peculiarities, the major spectral and temporal
properties of the source during this period were similar to that of the
Galactic black hole candidates in the intermediate state (corresponding to the
transition between the canonical high and low states). The power law component
of the spectrum gradually hardens with decrease of the source flux in the 3 -
150 keV energy band. The 2 - 10 Hz QPOs were found to be a generic feature of
the power density spectrum in this state. The changes of the QPO centroid
frequency are strongly correlated with the changes of spectral and timing
parameters (in particular parameters of the soft spectral component). This type
of correlation holds on the wide range of time scales (from seconds to months).
Overall trend of the spectral and temporal properties suggests that with
further drop of the source flux (below the values observed during the reported
period) they would match the canonical values for a low state of the Galactic
black hole candidates.