So what Restrict and Cascade mean : First thing to know is, Google Definition : The table containing the foreign key is called the child table, and the table containing the candidate key is called the referenced or parent table.
Here Foreign key is set as child of a Parent table,
Restrict on delete : it mean that you are restricted to delete a row in parent row ( record ) that is a reference of a foreign key.
Cascade on update: if a parent record ( reference column ) is updated, cascade will auto update the child row as well.