Progress Update on PM-eBus Sewa–Payment Security Mechanism Scheme
The PM-eBus Sewa–Payment Security Mechanism (PSM) Scheme aims to facilitate the deployment of electric buses across India, ensuring a payment security mechanism to promote operator confidence. Announced on October 28, 2024, the scheme has made significant advancements, including the conclusion of tenders for thousands of buses and the establishment of a Rs. 500 crore fund managed by Convergence Energy Services Ltd. (CESL). As of March 2026, the scheme involves various states and aims to deploy a total of 23,800 buses, with implementation progressing under different state authorities.
Source: Original Link