What is the DSC Full Form in Banking?
The DSC Full Form in Banking is Digital Signature Certificates. DSC work like an electronic equivalence of physical certificates, such as Driving Licenses, Passports, or Membership Cards. These certificates authenticate the identity of the person with reference to some factor in his life. Similarly, the Digital Signature Certificate can be taken in an electronic format to prove identity for oneself, accessing a wide range of services through the Internet, or digitally signing a number of documents.DSC enhance safety in carrying out online banking activities by digitally attesting to financial transactions and encrypting this information to make it accessible only by authorized entities.
Advantages of Digital Signature Certificate:
It ensures that the authentication of personal information or company details is undertaken, also saves much time and costs by fast-tracking and smoothing processes. It’s easy to manage and therefore helps in making the data more secure. It also minimizes the risk of loss of data while ensuring its integrity.
Significance of DSC:
A Digital Signature ensures that the data is not modified during or after the electronic signing of a document. One of the most ambitious e-Governance projects ever launched by any Government in India is undertaken by the Ministry of Company Affairs, known as MCA21. Normally, a Digital Signature Certificate is valid for a period ranging from one to two years, after which renewal needs to be done. In effect, these Digital Signature Certificates used for online forms have the same power and validity compared with conventionally written handwritten signatures. Under the provisions of the Information Technology Act, 2000, Digital Signatures are used for signing the documents filed electronically. Security and authenticity of the documents filed electronically are ensured.
Other Full forms:
- District Selection Committee.
- Digital Still Camera.
- Dynamic Stability Control.