Thiruvananthapuram: A costly typographical error by a bank clerk has left Kerala University's Centre for Latin American Studies facing a significant financial setback. Instead of transferring the intended ₹20,000 (Indian Rupees) to a Brazil-based journalist for delivering online lectures in 2023, the State Bank of India (SBI) clerk mistakenly transferred $20,000 (US Dollars), resulting in an excess payment of ₹16.5 lakh (approximately $19,800 USD).
The error occurred at the SBI Tejaswini branch in Technopark, Thiruvananthapuram. The funds were intended for Kathleen Martinic, the wife of Milan Sime Martinic, who was a guest lecturer at the university. Gireesh Kumar, the head of the Centre for Latin American Studies, reported the loss to the university in 2024 after the mistake was discovered.
Following the discovery, university authorities contacted Milan Sime Martinic, who initially promised to return the excess funds. However, the money was never credited back to the university's account, despite Martinic's claims of repayment. Unfortunately, Milan Sime Martinic passed away a few months later, further diminishing the chances of the university recovering the ₹16.5 lakh. The initial transfer occurred on June 15, 2023. The funds were part of a ₹20 lakh grant sanctioned by the state government for a student exchange program. These funds had been transferred to a consulting group via Kathleen Martinic's account.
The university has filed a complaint with the banking ombudsman in an attempt to resolve the issue, but the matter remains unresolved. SBI has acknowledged the error and requested the university's assistance in persuading the recipient to refund the excess amount.
This incident highlights the potential for significant financial repercussions arising from seemingly minor errors in banking transactions. In a separate incident in 2012, a bank clerk in Germany mistakenly transferred €222 million (approximately ₹2,000 crore) instead of the intended €64.20 due to falling asleep with a finger on a key. Fortunately, in that instance, another employee caught the error before the transaction was finalized.
While the Kerala University case involves a smaller sum, the impact on the Centre for Latin American Studies is considerable, especially given its limited budget. The university's efforts to recover the funds are ongoing, but the chances of a successful resolution appear slim following the death of the guest lecturer. This incident serves as a cautionary tale for both banking institutions and their clients, emphasizing the need for meticulous attention to detail in all financial transactions.
