Air India - Refundable flight tickets gives 0 refund on cancellation

*. Booked flight ticket from Mumbai to Hyderabad on *th Oct ****, for journey of *th Nov,**** for * people, My parents.
*. While booking first person's name was auto-corrected to my name (Piyush Vadgama) instead of my Dad's name (Dhirajlal Vadgama).
*. Air India is denying to change the name in such case.
*. So the only option is to cancel & re-book the new ticket. But standard cancellation charges of Air India is ****+*% GST, which is more than base fare of Airline's ticket.
*. In such case ticket shouldn't be called as "Refundable", since it misleads buyer.
*. If refundable charges > base fare, it should be "Non- refundable" ticket, to be fare to the consumer. So that he/she can skip buying such tickets.