As shown in figure, a rectangular loop of length 'a' and width 'b' and made of a conducting material of uniform cross-section is kept in a horizontal plane where a uniform magnetic field of intensity B is acting vertically downward. Resistance per unit length of the loop is $$\lambda$$ $$\Omega$$/m. If the loop is pulled with uniform velocity 'v' in horizontal direction, which of the following statement is/are true?
A small bar magnet of dipole moment M is moving with speed v along x-direction towards a small closed circular conducting loop of radius a with its centre O at x = 0 (see figure). Assume x >> a and the coil has a resistance R. Then, which of the following statements is/are true?