New Delhi, Oct. 17 -- Only 12 states and Union territories-Gujarat, Karnataka, Rajasthan, Punjab, Telangana, Andhra Pradesh, Madhya Pradesh, Meghalaya, Maharashtra, Uttarakhand, Odisha and Jammu & Kashmir-out of 36 have deposited the payment security mandate with the Reserve Bank of India (RBI) under the Union government's PM E-bus Sewa payment security mechanism (PSM), according to two people aware of the development.

The PM E-bus Sewa PSM scheme plans to build confidence in e-bus makers and operators to deploy more than 38,000 zero-emission buses on the roads.

"Maharashtra has submitted its DDM in August, followed by Odisha and Jammu and Kashmir in September. Now, there are 12 states and UTs which have submitted the DDM under the PM E...