IMPLEMENTATION OF PM eBUS SEWA PAYMENT SECURITY MECHANISM SCHEME

• PM-eBus Sewa-PSM is a central sector scheme providing a payment guarantee backstop to e-bus operators against default by Public Transport Authorities (PTAs) under Gross Cost Contract (GCC) deployments.
• Administered by the Ministry of Heavy Industries (MHI); implemented through Convergence Energy Services Ltd. (CESL) as Central Nodal/Implementing Agency.
• Critical for UPSC as it links EV transition, urban transport, fiscal federalism (DDM with RBI), and climate commitments.