When Br2 is passed into hot NaOH, it disproportionates to Br− and BrO−3.
The oxidation number of bromine in Br2 is 0.
The oxidation number of bromine in BrO−3 is +5.
The oxidation number of bromine in Br− is −1.
Thus, in basic medium, Br2 is oxidized to BrO−3 and at the same time, it is reduced to Br−.
Hence, assertion is incorrect but Reason is correct.