NMDC leadership Meets Dantewada Panchayat Heads, Promises Action on Water, Electricity and Roads (See 'Corp Brief') Veep addresses 6th Convocation of AIIMS Rishikesh (See 'Corp Brief') RRM highlights Vital Role of Naval Civilians in Delhi (See 'Corp Brief') IPR - As Constitutional Court under Article 215 of Constitution, appropriate orders are warranted to ensure that its directions are not taken in perfunctory or dismissive manner: HC (See 'Legal Desk') Green Economy: Youth to Play Key Role in India's Sustainability-Driven Growth: MoS (See 'Corp Brief') Scindia lauds BSNL's 'Transformative Performance (See 'Corp Brief') Bharat Coking Coal introduces Cash Discount Scheme for Power Sector Consumers (See 'Corp Brief') Prohibition of Benami Property Transactions Act, 1988 - Mere involvement of cash does not exclude transaction from ambit of benami, particularly where source is undisclosed & transaction is structured to legitimize unaccounted money during demonetization: SAFEMA Tribunal (See 'Legal Desk') Ministry of Steel to hold Open House on Steel Import Issues on Monday (See 'Corp Brief') RM & German counterpart hold bilateral talks in Berlin (See 'Corp Brief') India records Historic Growth in Wind Energy with 6.1 GW addition in 2025-26 (See 'Corp Brief') PMLA - Mere fact that some allegations in predicate FIR were quashed, or that attached property was allegedly purchased before crime period, did not invalidate attachment if companies were recipients of proceeds of crime: SAFEMA (See 'Legal Desk') Agricultural leadership of North India to converge in Lucknow tomorrow (See 'Corp Brief') Railways plants 81.6 lakhs trees in 2025-26 across Zones (See 'Corp Brief') PMLA - If proceeds of crime directly or indirectly obtained or derived out of criminal activity relating to scheduled offence are not traceable, then any other property of accused of equivalent value falls within definition of ‘proceeds of crime': SAFEMA (See 'Legal Desk') MSDE drives skill-led transformation across India's border villages (See 'Corp Brief') Nadda emphasizes 70% of NCD Risk Factors Are Lifestyle-Driven (See 'Corp Brief') Workshop on New Textile Schemes held in Bengaluru (See 'Corp Brief') IPR - Claim for injunction on the ground of breach of confidentiality cannot succeed if plaintiff fails to establish an enforceable confidentiality obligation and has himself publicly disclosed the relevant work: HC (See 'Legal Desk') Farmers need trust and simpler Systems, Not Just Credit: Chouhan (See 'Corp Brief') India's civilisational openness key to future leadership: William Dalrymple (See 'Corp Brief') A&C - Even if arbitration clause expressly names particular official as party-appointed arbitrator, such appointment cannot be sustained if that person is rendered ineligible u/s 12(5) read with Seventh Schedule: HC (See 'Legal Desk') NFRA Circular 2026- lessons to auditor on communication (See CORP EINSICHT) India-ROK Framework for Partnership in Shipbuilding, Shipping and Maritime Logistics (See 'Corp Brief') Food Business Startup Enabler Programme 2.0 conducted (See 'Corp Brief') Policy Support, Startups and Industry participation accelerate Circular Economy Transition (See 'Corp Brief' CCI okays restructuring by Vishakha Renewables and merger with Vishakha Glass (See 'Corp Brief') Scindia highlights historic 16% revenue growth of Department of Posts (See 'Corp Brief') IPR - Scope & clarity of invention are to be ascertained not just from independent claim in isolation, but by reading it together with dependent claims and accompanying drawings: HC (See 'Legal Desk') Samriddh Gram Initiative of India Nominated for WSIS Prizes 2026 (See 'Corp Brief') DARPG to observe 18th Civil Services Day on April 21, 2026 (See 'Corp Brief') IPR - Amended claims that significantly alter original claims transitioning from composition to non-native pancreatic ß cell must be duly considered by Controller independently without being influenced from prior conclusions - YES: HC (See 'Legal Desk') States showcase Best Practices in Digital Health at NHA Chintan Shivir (See 'Corp Brief') PMLA - Cricket betting involves cheating, which constitutes predicate offence under Prevention of Money Laundering Act, 2002, when FIR is registered for scheduled offences such as Section 420 IPC: SAFEMA (See 'Legal Desk') Chouhan reviews Kharif preparedness (See 'Corp Brief') CAQM reviews enforcement actions across NCR (See 'Corp Brief') PMLA - If actual tainted property or proceeds of crime are not traceable or available, authorities are empowered to attach alternative attachable property or untainted property of person involved: SAFEMA (See 'Legal Desk') Corporate laws (Amendment) Bill 2026 - Proposals affecting auditors (See CORP EINSICHT)

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Cabinet approves PM-eBus Sewa-Payment Security Mechanism scheme

Published: Sep 12, 2024

By TIOLCorplaws News Service

NEW DELHI, SEP 12, 2024: Union Cabinet, has approved the "PM-eBus Sewa-Payment Security Mechanism (PSM) scheme" for procurement and operation of e-buses by Public Transport Authorities (PTAs) with an outlay of Rs. 3,435.33 crore.

This scheme will support deployment of more than 38,000 electric buses (e-Buses) from FY 2024-25 to FY 2028-29. The scheme will support the operation of e-buses for a period of up to 12 years from the date of deployment.

At present, the majority of buses operated by Public Transport Authorities (PTAs) run on diesel/CNG, causing adverse environmental impact. On the other hand, e-buses are environment friendly and have lower operational cost. However, it was anticipated that Public Transport Authorities (PTAs) would find it challenging to procure and operate e-buses because of their high upfront cost and lower realization of revenue from operations.

To address the high capital cost of e-buses, Public Transport Authorities (PTAs) induct these buses through Public Private Partnership on Gross Cost Contract (GCC) model. The PTAs are not required to pay the upfront cost of the bus under the GCC model, instead OEMs/operators procure and operate e-buses for PTAs with monthly payments. However, OEMs/operators are hesitant to engage in this model due to concerns about potential payment defaults. 

The scheme addresses this concern by ensuring timely payments to OEMs/operators through a dedicated fund. In case of default of payments by PTAs, CESL, the implementing agency, shall make necessary payments from the scheme funds which will be later recouped by the PTAs/State/UTs.

This initiative seeks to facilitate adoption of e-buses by encouraging private sector participation. The scheme will also lead to significant reductions in greenhouse gas emissions and also reduce the consumption of fossil fuel. The scheme will provide benefits to all Public Transport Authorities (PTAs) present in State/UTs who opt for the scheme. 

 

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