Daily Current Affairs Quiz: August 12, 2026

 Hence, option (c) is correct.

Hence, option (b) is correct.

• Yusuf Meherally, a socialist and freedom fighter, coined the slogan “Quit India” in 1942. Hence, option (c) is correct.
• The slogan became closely associated with the Quit India Movement, which was launched by the Indian National Congress in August 1942 under Mahatma Gandhi’s leadership.
• The movement demanded an immediate end to British rule in India.

• The Aligarh Movement was led by Sir Syed Ahmed Khan. It aimed to promote modern education and socio-economic reform among Muslims in India. Hence, option (d) is correct.
• Sir Syed established the Muhammadan Anglo-Oriental College at Aligarh in 1875, which later became Aligarh Muslim University.
• The movement encouraged the study of modern sciences and Western education along with social and intellectual reform.

• India follows a managed floating exchange rate system, in which the value of the Indian rupee is primarily determined by market forces. Hence, option (c) is correct.
• However, the Reserve Bank of India (RBI) may intervene in the foreign exchange market to address excessive volatility and disorderly market conditions.
• Thus, the rupee is neither fixed at a predetermined rate nor allowed to float completely without central bank intervention.