In circuit breakers this feature will provide faster or slower responses for larger or smaller overcurrents, respectively. Ie Big overcurrents will trip quickly, and small overcurrents will allow more time before tripping.
This is good as it allows overcurrents time to correct themselves (like when a refrigerator motor fires up there is a spike in current) without tripping and requiring attention; and larger overcurrents (faults) will trip quickly keeping the circuit safe from overloading, and say, catching fire.
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A: heat And PIV(Peak Inverse Voltage) or so called Peak Reverse Voltage is limit the diode characteristics.
Inverse Definite Minimum Time Lag = IDMT relay It's a electromagnetic type rotating disk relay. Tripping time of relay decreases with increasing fault current. see http://myweb.tiscali.co.uk/robert.booth/uni/docs/Power%20Supply%20Assignment%203.pdf
Inverse Definite Minimum Time
electrical energy to mechanical form
Peak inverse voltage of a device like diode gives the maximum value of voltage that it can withstand without being damaged when it is reverse biased.