Two long smooth conducting rails separated by distance $l$  are fixed in vertical plane as shown in figure. The lower ends of the rails are connected by a resistor R. Another conducting rod PQ is allowed to move smoothly and vertically on conducting rails. The entire region is having horizontal uniform magnetic field B which is directed into the plane of paper. The rod is imparted an initial velocity u in upward direction. Assuming no resistance is present other than R and acceleration due to gravity is g, mark the correct statement(s).