Step 1: Understanding the Concept:
This question focuses on cryopreservation, which is a method of preserving cells, tissues, or organs at ultra-low temperatures to maintain their viability and genetic stability over long periods.
Step 2: Detailed Explanation:
Let us evaluate both statements:
Assertion (A): "Germplasm can be preserved for longer period under cryopreservation at $-296^{\circ\text{C}$."}
This statement is incorrect.
In physics, absolute zero is the lowest possible temperature, defined as $-273.15^{\circ}\text{C}$ ($0\text{ K}$).
Therefore, a temperature of $-296^{\circ}\text{C}$ is physically impossible.
Cryopreservation is actually carried out in liquid nitrogen at a temperature of $-196^{\circ}\text{C}$ ($77\text{ K}$).
At this temperature, all metabolic and biochemical processes are virtually arrested, allowing for long-term storage.
Because of this physical error, Assertion (A) is false.
Reason (R): "There is minimal loss of genetic information through cryopreservation"
This statement is correct.
Because metabolic activity and cell division are suspended at $-196^{\circ}\text{C}$, genetic changes, mutations, and cellular decay are prevented.
This ensures the stored germplasm remains genetically stable over long periods.
Step 3: Final Answer:
Assertion (A) is incorrect, but Reason (R) is correct.
This corresponds to Option (D).