₹16 lakh Heist: Kerala University's Bank Error Leaves Trail of Unreturned Funds
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In a shocking case of clerical blunder, Kerala University's Centre for Latin American Studies has been left short of nearly ₹16.5 lakh after a bank employee mistakenly transferred $20,000 instead of ₹20,000 to a Brazilian journalist in 2023. The error occurred when the bank clerk confused the rupee symbol with the dollar sign while processing the payment for four virtual lectures. The payment was made through the State Bank of India's Tejaswini branch in Technopark, Thiruvananthapuram, and was credited to the account of Kathleen Martinic, the wife of guest speaker Milan Sime Martinic. University officials said the excess amount was supposed to be returned, but despite assurances from Martinic, the refund never materialized. The lecturer claimed the money had been sent back, but the Centre remains uncertain. The funds originally came from a ₹20 lakh grant sanctioned by the state government for a student exchange programme. Kathleen Martinic transferred the funds to a consulting firm's account, and the Centre has since approached the banking ombudsman. While the State Bank of India has acknowledged the error, it has asked the university to assist in persuading the recipient to return the excess amount, a task that has yielded no results so far. The Centre for Latin American Studies is still awaiting the recovery of the funds, which were mistakenly paid on June 15, 2023. The lecturer's passing a few months after the transfer has further complicated the matter, making it less likely to recover the funds.
