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Kerala University Loses ₹16.5 Lakh in Costly Typo
6 Jan
Summary
- Kerala University mistakenly transferred $20,000 instead of ₹20,000.
- A bank clerk's error at SBI Tejaswini branch caused the significant loss.
- Recovery hopes have faded after the death of the guest lecturer.
A significant clerical error has resulted in Kerala University losing ₹16.5 lakh after a $20,000 transfer instead of the intended ₹20,000. The mistake occurred on June 15, 2023, at the SBI Tejaswini branch when a bank clerk mistakenly used the dollar symbol. This accidental currency swap sent the larger sum to Kathleen Martinic, wife of a guest lecturer, for online lectures.
University officials only formally recognized the loss in 2024 and attempted to recover the funds from the guest lecturer, who had promised to refund the excess amount but never did. The situation worsened considerably when the guest lecturer passed away a few months after these communications, severely reducing the likelihood of recovering the lost ₹16.5 lakh.
The funds originally came from a state government sanction for a student exchange program. The money was reportedly moved to a consulting group's account by Martinic's wife. Kerala University has approached the banking ombudsman, but the matter remains unresolved, with SBI admitting the error and seeking the university's cooperation in recovery efforts.
