Concept:
The focal length of a lens in a medium is given by the lens maker's formula
\[
\frac{1}{f}
=
\left(
\frac{n_{\text{lens}}}{n_{\text{medium}}}
-1
\right)
\left(
\frac{1}{R_1}
-
\frac{1}{R_2}
\right).
\]
The focal length depends on both refractive indices and radii of curvature.
Step 1: Examine the Assertion.
When a glass lens is immersed in water,
\[
\frac{n_{\text{lens}}}{n_{\text{medium}}}
\]
decreases because water has a refractive index greater than air.
Therefore,
\[
\frac{1}{f}
\]
decreases and the focal length increases.
Since power
\[
P=\frac{1}{f},
\]
the power decreases.
Hence, the converging power does not increase.
The Assertion is false.
Step 2: Examine the Reason.
The focal length does not depend only on radii of curvature.
It also depends on the refractive index of the lens material and the surrounding medium.
Hence, the Reason is false.
Step 3: Final conclusion.
Both Assertion and Reason are false.
\[
\boxed{\text{(D)}}
\]