Bangalore: SafeScrypt Ltd, India's first licensed certifying authority has achieved yet another milestone in providing convenient and secure transactions over the Internet by signing a memorandum of understanding (MoU) with the director general of foreign trade (DGFT) for digitally signed EXIM transactions, according an official press release.

All DGFT transactions, which will henceforth be signed with encrypted digital signatures, will allow the foreign trade sector to interact faster with the Ministry of Commerce as well as be assured that transactions are secure, authentic, legally valid, and non-repudiable, the release said.

All EXIM notifications and public notices are to be transmitted with digital signatures with on-line electronic licenses to be deployed shortly. The exporting community who apply for import/export licenses and importer/exporter codes (IEC) will now be able to interact directly with DGFT on a secured electronic platform, which will facilitate paperless verification, processing and communication, the release said.

The DGFT is also implementing systems for electronic fund transfer facility (EFT) so that exporters can transmit their applications online along with the application fee without physically visiting either a bank or an office of the DGFT, according to the release.