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The Reserve Bank of India on Thursday restrained a card network, that had an arrangement to enable businesses to make card payments through certain intermediaries, to entities that do not accept card payments. The central bank further said, “The arrangement has also raised following concerns. i) The intermediary in the above arrangement pooled large amount of funds into an account which is not a designated account under PSS Act and; ii) Transactions processed under this arrangement did not comply with the originator and beneficiary information requirements, as stipulated under Master Direction on KYC issued the Reserve Bank.”