With respect to serial communication define the baud rate.

The rate of data transfer into serial data communication is denoted in bps. Bits per second (bps) are the rate of information bits transfer. Baud is the number of signal level modifies per second in a line, regardless of the information content of such signals. The baud and bps rates are not essentially equal. The ratio of BPS to baud based on the information-coding scheme which you are using. For illustration, each character in asynchronous RS-232 coding has a start and stop bit that are not counted as information bits, therefore the BPS rate is actually less than the baud rate.