Questions

LRS stands for - Liberalised Remittance Scheme.
LRS is a facility provided by the Reserve Bank of India for all resident individuals to freely remit certain amount in terms of US dollar every financial year for a permissible set of current or capital account transactions.
Note:
* In April 2018, the Reserve Bank of India (RBI) has tightened reporting norms for the Liberalised Remittance Scheme (LRS) under which individual can transfer up to US $2,50,000 abroad in a year.

* The purpose of tightening of norms is to improve monitoring and to ensure compliance with LRS limits.
* The scheme was introduced in February 2004 and its regulations are provided under Foreign Exchange Management Act (FEMA), 1999.

The classical economists believed in the existence of full employment in the economy. To them, full employment was a normal situation and any deviation from this regarded as something abnormal. According to Pigou, the tendency of the economic system is to automatically provide full employment in the labour market when the demand and supply of labour are equal.

Bank of Baroda has signed a Memorandum of Understanding (MoU) with POORTI (Platform for Online Ordering & Rural Transformation of India) Agri Services Pvt. Ltd to enable farmers to purchase agricultural inputs like fertilizers, pesticides, seeds etc.POORTI provides a multi-party mobile commerce platform in vernacular for easy ordering of fertilizers, pesticides, seeds (beyond a given value) by farmers with loans given by various banks.