As, induced e.m.f directly proportional to rate of change of magnetic flux (ϕ8)
ϕB=B⋅A=BAcosθ
B⊥A⇒ϕB=BAcos90∘=0
So, induced emf =0
No, there will not be an induced emf occur in the loop as magnetic flux doesn't change linked with the circular loop because magnetic field lines are parallel to the plane of the loop.