Uber is a company that probably won’t catch many breaks in different markets. Whenever it sets up camp in a major city there’s a good chance it will leave due to strict regulations. Just last week the company pulled out of Nevada. For riders in India, it looks like Uber will be staying.
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The company agreed to comply with the RBI’s requirement for Indian credit cards to be protected with two factor authentication on Uber’s end. Of most requirements that have been put forth to Uber this seems like one of the least heavy handed ones as it falls in line with basic consumer protection.
Uber wasn’t impressed about adhering to the requirement as the made known that it feels that too many requirements and regulations can restrict the nature of how its business is intended to work. Uber has called the requirement everything short of “stupid.” The company also says that such a requirement will also hinder other companies looking to provide services in the country.
All of that aside, Uber has said that they are still in positive talks with the Reserve Bank of India to come up with regulations that can help with businesses in the market.
Uber’s full statement can be read here.