Anyone please explain me the significance of these options in layman terms.
vrdabberu
(Varunraj Dabberu)
2
Hi @Ritaman_Baral
The below picture should help you understand Log levels:
Regards
@Ritaman_Baral,
This settings in Assistant will be applicable to the bots/jobs/processes executed from Assistant or Orchestrator.
For example if you select Warning, it will log only the messages with Warning or Error or Critical type. It will not log Information or Trace logs.
You can get more clarity about which logs will be logged on which settings from this documentation.
Thanks,
Ashok 
Do we have this setting in orcehstrator also ? Or it is exclusively from Assistant?
@Ritaman_Baral,
Yes, it’s possible from Tennent - Manage Access settings of particular bot

Thanks,
Ashok 