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Last Updated : Apr 09, 2020 08:20 AM IST | Source: Moneycontrol.com

IIFL Group donates Rs 5 crore to PM-CARES Fund

On March 28, Prime Minister Narendra Modi launched the PM-CARES Fund which allows individuals and institutions to make micro-donations in the battle against the coronavirus pandemic.

Financial services conglomerate IIFL group has donated Rs 5 crore to Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM-CARES Fund) towards efforts to tackle the coronavirus pandemic in India.

In a tweet on March 30, Nirmal Jain, the founder and chairman of India Infoline Group, committed Rs 5 crore to PM-CARES Fund.

On March 28, Prime Minister Narendra Modi launched the PM-CARES Fund which allows individuals and institutions to make micro-donations in the battle against the coronavirus pandemic.

"People from all walks of life expressed their desire to donate to India's war against COVID-19," PM Modi tweeted, adding the fund has been constituted respecting that spirit.


"It is my appeal to my fellow Indians, kindly contribute to the PM-CARES Fund. This Fund will also cater to similar distressing situations, if they occur in the times ahead," he said.

COVID-19 Vaccine

Frequently Asked Questions

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How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

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Since the fund was set up, thousands of Indians answered to PM's war cry and Rs 6,500 crore have been collected, as on April 6.

Industry giants such as Reliance Industries, HDFC Group, Adani Group, SBI, ICICI Bank, Tata Sons, Infosys, Wipro, Kotak Mahindra Bank, Aditya Birla Group among others, have made major contributions to the fund.

The novel coronavirus, or COVID-19, pandemic has spread across 184 countries and territories.

As of the time of writing this article, the total number of confirmed COVID-19 cases in India were at 5,274. The Union Health Ministry has said that 149 people have died due to the disease.

Globally, there have been over 15.1 lakh confirmed cases of COVID-19. At least 88,400 people have died so far.
First Published on Apr 9, 2020 08:11 am