The Indian exchange rate system is termed as quot managed float quot because ........

Economic Affairs Balance of Payments

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The Indian exchange rate system is termed as "managed float" because:

RBI fixes the exchange rate

RBI fixes the exchange rate and keeps adjusting depending on the economic situation

RBI participates in the market to keep the exchange rate in a particular range and to prevent volatility

None of the above

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Explanation:

The value of Rupee with respect to other currencies for example $ is decided by the market forces of demand and supply and not regulated by RBI. But when Rupee becomes volatile with respect to $ then RBI intervenes in the market and buys and sells dollars to contain the volatility of rupee. So the Rupee is managed/dirt floats.
Floating Exchange Rate can be of two types 1. Free Float and 2. Managed Float In those countries where Central Bank doesn't interfere in the exchange rate market are called free float for example US. Before 1993, India's exchange rate was "Fixed and adjustable" or Pegged exchange rate.