This is awful. Uber might have to shut down its services in India, its largest market outside the United States, by October 31, for not complying with the Reserve Bank of India's two-factor authentication regulations.

India is a huge market, so Uber's obviously not going to back off so easily. But they might have to modify their business model in the country ever so slightly. Heck, they might even start accepting cash. [Quartz]

Update: Uber, which has been particularly tight-lipped on the matter, just gave The Next Web this sort-of statement:

With more Uber cities in India than in any other country outside the US, riders, drivers and communities across the 10 cities have embraced Uber. We are working to gain more clarity on this new rule while we continue to connect riders in India with safe, reliable, and convenient rides.