Internet and Communication Technologies operates widely in a multi-server environment. Authentication is one of a primary concern in multi-server environment. There are so many remote user authentication schemes using smart cards that operate in multi-server environment. But there are some authentication bottlenecks that these schemes suffer from. We have analyzed some schemes on the grounds of some specific security requirements and goals. In this paper, we propose a scheme that integrates key exchange and session key agreement in one phase and also supports traceability feature and resists denial of service attack.