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Time Banks - Madhya Pradesh
September 17 , 2019
1814 days
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- The Madhya Pradesh government’s Happiness Department has proposed to set up a “Time Bank”.
- It’s a reciprocal service exchange which uses “units of time” as currency.
- Community-level banks will be formed with a list of volunteers.
- The list of “skills” they could impart or “services they could offer” will be noted.
- Whenever a bank member needs a service or wants to acquire a new skill (Ex: playing a guitar), she/he could exchange a credit, worth an hour, with another member knowing the skill.
- This concept was first conceived at the Cincinnati Time Store, USA in 1827.
- The first Time Bank was set up in Japan in 1973.
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