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Data security has become one of the major challenges in computing. Among them cryptography is one of the various methods in data security, although many algorithms of cryptography are in use since long but every algorithm has its own set of problems. Similarly all these algorithms have broken up by hackers. An algorithm which is safe with minimal problems is yet to be developed. For the development of such an algorithm one should understand the strengths and weaknesses of current algorithms. This paper discusses various problems of the existing cryptographic schemes and proposes a new scheme RKE.