The Madhya Pradesh government’s Happiness Department is planning to set up a Time Bank that would lend currency to an hour, which could be exchanged to learn a new skill without the need for any paper money.
About:
In Madhya Pradesh, time banks will enable person-to-person, person-to-agency and agency-to-agency transactions. Members will start with zero credits, which they could gradually acquire by imparting skills.
As the bank would measure all kinds of skills and services through a common denominator — time, members would view them, and those offering it, as an equal.
Whenever a bank member needs a service or wants to acquire a skill, say gardening or playing a guitar, she could exchange a credit, worth an hour, with another member knowing the skill.
At the start, the 50,000 volunteers registered with the department through local networks will form community-level banks and list skills they could impart or services they could offer. An experienced volunteer will induct new members and keep a record of all the transactions.
Dear Student,
You have still not entered your mailing address. Please enter the address where all the study materials will be sent to you. (If applicable).
