How do you know that this is a resettable fuse?
It just looks like one, having the semi-circular cut outs on the end is common with smd PTC and with smd LED, it's not an LED.
A google image search gets us here:
http://uk.farnell.com/te-connectivity-raychem/microsmd005f-2/polyswitch-smd-1210-0-05a/dp/1345915which is a 0.05A and has the same markings except the number, and if we apply that pattern we can see that yours is 0.2A
In addition, does 200mA mean that once the current is >0.2A, the resettable fuse is tripped and the resistance of resettable fuse will increase in orders of magnitudes?
Yes and no. It will require substantially more than 200mA to trip (or a smaller amount more for a longer period of time), but it can pass 200mA. Take a look at the datasheet in the link above, in the performance ratings, you can see for that "50mA" fuse, it takes 150mA to trip it at 20 degrees ambient temperature, and the time to trip is 1.5 seconds at 250mA (20 degrees again), so you can see the overload needs to be substantial to get any meaningful trip-time. It we are talking about a pure short circuit, no problem, a few amps is going to trip it in a flash, if we are talking about just drawing a bit more current than usual, you might be there for a long time waiting for it to go.