It is an earth observation satellite. EOS-01 is nothing but another Radar Imaging Satellite (RISAT) that will work together with RISAT-2B and RISAT-2BR1 launched last year. This is the first launch by the Indian Space Research Organisation since the COVID-19-induced lockdown came into force in March

• This will be the 51st mission of ISRO’s workhorse, the Polar Satellite Launch Vehicle.
• EOS-01 is intended for applications in agriculture, forestry and disaster management support.
• Polar Satellite Launch Vehicle:
• India’s Polar Satellite Launch Vehicle (PSLV) is the third generation launch vehicle.
• PSLV is the first launch vehicle which is equipped with liquid stages.
• PSLV’s first successful launch was in October 1994. PSLV was used for two of the most important missions. These are Chandrayaan-1 in 2008 and Mars Orbiter Spacecraft in 2013.
• Geosynchronous Satellite Launch Vehicle (GSLV) Mark II and GSLV MkIII are other two launch vehicles
• Earth Observation Satellite:
• An Earth Observation Satellite or Earth Remote Sensing Satellite is a satellite used or designed for Earth Observance (EO) from orbit, including spy satellites and similar ones intended for non-military uses such as environmental monitoring, meteorology, cartography and others. 
• The most common type are Earth imaging satellites, that take satellite images, analogous to aerial photographs; some EOS satellites may perform remote sensing without forming pictures, such as in GNSS radio occultation.
• The first occurrence of satellite remote sensing can be dated to the launch of the first artificial satellite, Sputnik 1, by the Soviet Union in 1957.
• Uses:
• Land and forest mapping and monitoring
• Mapping of resources like water or minerals or fishes
• Weather and climate observations,
• Soil assessment,
• Geospatial contour mapping
• Advantages of radar imaging over optical instruments:
• Radar imaging is unaffected by weather, cloud or fog, or the lack of sunlight.
• It can produce high-quality images in all conditions and at all times.
• New Space India Limited:
• One of the mandates of NSIL is to mass-produce and manufacture the SSLV and the more powerful PSLV in partnership with the private sector in India through technology transfers.
• Its aim is to use research and development carried out by ISRO over the years for commercial purposes through Indian industry partners.
• It differs from ISRO’s existing commercial arm Antrix Corporation:
• Antrix will handle ISRO’s commercial deals for satellites and launch vehicles with foreign customers.
• NSIL will deal with capacity building of local industry for space manufacturing.