The Centre is developing a payment security mechanism (PSM) to facilitate the procurement of 150,000 e-buses. The PSM aims to address issues such as fare collection inefficiencies and improper upkeep of buses, ensuring e-bus suppliers are paid for their vehicles.
Hardeep Singh Puri: Addressing the Urban Mobility India (UMI) conference in the capital, Joshi said Delhi has, in a way, solved the last mile connectivity as people can get e-rickshaws at an affordable fare. However, there is an "associated problem of too many e-rickshaws" getting Metro stations "choked" in Delhi.
The PM e-Bus Sewa had found a mention in the India-United States joint statement released after the meeting of US President Joe Biden with Prime Minister Narendra Modi on the sidelines of the G20 Summit in September.
The investment has been made through the Performing Credit Fund (PCF), a sector-agnostic fund of Piramal Alternatives, which caters to the capital needs of mid-market companies, the company said.