It may be fine, but either of the following may occur:
The airport security may reject the passenger from entry if the names do not match exactly.
The airline may not allow the passenger to travel if the name does not match.
Either of the above would require a name change on the ticket, the airline may do this for free at the airport, they may charge a large change fee, or may require a new ticket is purchased.
Personally, I would try to have the name changed now rather than worry about it.
As in many things in life, YMMV, even as it is probably likely to be fine.
Under the IATA rules applicable to Air India, a single-letter transposition should not be a problem.
Airport security may also reject passengers from entry because the names do "match exactly". The irony when that happens -- and it does happen sometimes, including as a result of people trying to "fix" the "name".
I have traveled many dozens of times within India -- and many more times than that out of India -- in recent years without an "exact match" in some form or another and had no problem. YMMV.
Airport security noting the OP's single-letter transposition? Low, but possible. Airport security making a fuss over the same? Low, but possible. Airline making a fuss over the same? Low, but possible.
Personally, I wouldn't worry about it and wouldn't do anything beyond call the airline, if even that.