Sometimes, a single symbol is enough to tilt the scales of fate.
₹16.5 Lakh Lost to Dollar–Rupee Transfer Error
Kerala University is grappling with a financial setback of ₹16.5 lakh following what officials describe as one of the most expensive clerical errors in its recent history. The loss stemmed from a routine international bank transfer meant to pay honorarium to a Brazil-based journalist who delivered a series of online lectures in 2023.
The Centre for Latin American Studies at Kerala University had approved a payment of ₹20,000 for four virtual lectures conducted by guest faculty member Milan Sime Martinic. However, during the transaction, a bank clerk at the State Bank of India’s Tejaswini branch in Technopark, Thiruvananthapuram, mistakenly entered the amount using the dollar symbol instead of the rupee sign. As a result, $20,000—rather than ₹20,000—was transferred on June 15, 2023, draining an additional ₹16.5 lakh from university funds.
The money was credited to the bank account of Kathleen Martinic, the wife of the lecturer. The error went unnoticed initially and was formally reported to the university only in 2024, prompting efforts to recover the excess payment. According to officials at the Centre, Martinic was contacted and acknowledged the mistake, assuring the university that the surplus amount would be returned.
Refund Eludes University, Recovery Efforts Stall
Despite repeated follow-ups, the refund never materialised. Centre head Gireesh Kumar told The Times of India that while Martinic claimed to have transferred the money back, no such credit was reflected in the university’s accounts. Complicating matters further, Martinic passed away a few months after these communications, significantly dimming hopes of recovery.
The funds involved were part of a ₹20 lakh grant sanctioned by the Kerala government for a student exchange programme. University officials later learned that the mistakenly transferred amount had been moved from the original account to that of a consulting firm operated by Kathleen.
SBI has acknowledged the clerical error and approached the university for assistance in persuading the recipient to return the money. The Centre has also taken the matter to the banking ombudsman, but the issue remains unresolved, leaving the university to absorb the loss.
And so, a misplaced sign lingers like a ghost in the ledger, reminding institutions how fragile numbers can be.
Summary
Kerala University lost ₹16.5 lakh after a bank clerk mistakenly transferred $20,000 instead of ₹20,000 to a Brazil-based lecturer’s family account. Though assurances of repayment were given, no refund came. The lecturer’s subsequent death and fund transfers complicated recovery, leaving the error unresolved despite SBI admitting fault.
