Chandigarh’s Unique Bank Where Time Is Deposited And Withdrawn

Chandigarh: Have you ever heard of a bank where time is deposited instead of money? Such a bank has come into being in Chandigarh. The ‘Time Bank’ comes as a ray of hope for the elderly people who live alone or need assistance with daily tasks.

The unique feature of this concept is that members who donate time to care for the elderly see it credited to their accounts, allowing them or their families to use that time whenever needed.

The Bank members say that this initiative connects members based on their area and helps each other when needed. Members' time given is recorded in a digital passbook. When they or their family members need assistance, they can use this accumulated time. The objective is to promote a spirit of cooperation and sensitivity in society. With the message of ‘Give time, get service’, this model inspires people towards selfless service.

The Bank members claim that security is of paramount importance at the Time Bank. Both service providers and recipients must be registered members after completing their KYC process, including submission of a photograph and issuing of an identity card. The membership is approved only after verification. The information about a member deputed to help is provided to the receiving elderly or their family before any service is given. Feedback is collected after the service, and in case of a complaint of inappropriate behaviour, the membership of the person deputed for the task is immediately revoked. The organization does not discriminate on the basis of caste, religion or gender.

Time depositors taking care of the elderly. (ETV Bharat)

Those managing the Bank explained that a member in need submits a request for assistance either through a WhatsApp group, by phone or by logging into their website. The administrator records the request and nominates a willing member from the relevant pincode area to provide the service. The service provider arrives at the designated time and provides assistance. Once the task sought is completed, the service time is recorded in a digital passbook.

It was disclosed that members are organized into small groups and monthly meetings are held to strengthen mutual acquaintance and trust.

The initiative allows you to deposit time and use it later as well. (ETV Bharat)

The Bank offers three types of assistance in the form of providing time to the elderly people living alone to alleviate their loneliness, accompanying them to the doctor, dentist, temple, park or for other important errands and providing care as an aide during hospitalization. These services not only provide support to the elderly but also provide emotional support.

The important feature of this initiative is that there is no membership fee. No money is given or taken in exchange for the services provided. The administrators also provide their services without any payment. The organization believes that the sole purpose of this initiative is to promote a spirit of cooperation in society and provide respectful support to the elderly.

Founder of the Bank, P.C. Jain, disclosed, “ The sole purpose is to support the elderly and promote the spirit of cooperation in society. The message of 'Give time, get service' is inspiring people to come forward and fulfil their responsibility to society."

Sharing his experience, Arunesh Agarwal said, "I joined this initiative when an elderly man asked me for help, but I was in another city at that time. I told my acquaintances, but no one went to his house to help. Finally, I returned from Ambala and took him to the hospital for treatment in time. This incident completely changed me. Now, I reach out to many people to help them."

Another member of the Bank, I.D. Singh disclosed, "This initiative began in Chandigarh in 2019. At that time, only five people joined the Bank. Today, our strength is 450. The enthusiasm for this unique initiative is growing, and more people are joining."

Observers say that this model has emerged as a shining example of social responsibility.