The new show, called "Secret Slumdog Millionaire", also takes its name from the successful British television show "Secret Millionaire", in which wealthy businessmen and women move incognito into poor communities and select a person or project for charity.
Episodes often end in tears of joy when the 'secret millionaires' reveal themselves to grateful recipients.
The planned Slumdog TV series is the brainchild of Celador, which co-produced the Oscar-nominated film and also makes the popular television quiz show "Who Wants To Be A Millionaire?" - the inspiration for "Slumdog..." the movie.
The Daily Express said Celador is set to announce the new series soon and is aiming to broadcast it "as soon as possible to cash in the enormous popularity of the movie".
A television insider told the paper: "It is a fantastic idea....The millionaires who sign up will see real poverty in Mumbai and it is going to be very moving when they reveal their identity and offer these people help."
"The producers are bracing themselves against claims that they are cashing in on poverty but the bottomline is they will actually be helping people as well as making great television."
"Secret Slumdog Millionaire" is the working title, but could be changed.