What are the effects of moving a closed wire loop through a magnetic field?

If a closed wire loop is moved in a magnetic field, a current starts flowing in it. This is because all the charged particles present in the wire are in motion and under the effect of a magnetic field, they experience a force according to the lorentz force formula.
F= q(V X B)
according to this formula the positive and negative charges will experience force in opposite direction and hence will be accumulated on the opposite sides of the vertical portion of the wire which will lead to the generation of EMF which will result in the flow of current.
Thanks and regards
Apoorva Arora
IIT Roorkee
askIITians Faculty