1. A method 100 of recognizing characters on a license plate, the method comprising:
capturing an image of the license plate;
localizing the license plate in the captured image, wherein the localizing method comprising:
semantically segmenting the captured image and assigning a unique colour to the license plate in the captured image; and
localizing the license plate by analyzing the unique colour in the captured image assigned by sematic segmentation;
pre-processing the image of the localized license plate; and
recognizing the characters in the pre-processed image, wherein the recognizing method comprising:
semantically segmenting the pre-processed image of the license plate and assigning a unique colour to each character in the image of the license plate; and
recognizing the characters by mapping the unique colour assigned to each character in the image of the license plate with a predefined colour information; and
post-processing the image of the license plate to convert the recognized characters into a text form.
2. The method 100 of recognizing the characters on the license plate as claimed in claim 1, wherein the image capturing device is supported on a stationary post.
3. The method 100 of recognizing the characters on the license plate as claimed in claim 1, wherein the image capturing device is supported on a moving device.
4. The method 100 of recognizing the characters on the license plate as claimed in claim 1, wherein the method of pre-processing the image of the localized license plate

eliminating noise in the image of the localized license plate; and converting the image of the localized license plate into a binary image.
5. The method 100 of recognizing the characters on the license plate as claimed in claim 1, wherein the method is automatic.
6. A system 200 for recognizing characters on a license plate 202, the system 200 comprising:
an image capturing device 204; and
a processor 210 communicatively coupled to the image capturing device 204, wherein the processor 210 comprising:
a localization module 212, the localization module 212 being configured to:
semantical ly segment a captured image and assign a unique colour to the license plate 202 in the captured image; and
localize the license plate 202 by analyzing the unique colour in the captured image assigned by semantic segmentation;
an image pre-processing module 214 configured to pre-process the image of the localized license plate 202 for character recognition;
a character recognition module 216, the character recognition module 216 being configured to:
semantically segment the pre-processed image of the license plate 202 and assign a unique colour to each character in the image of the license plate 202; and
recognize the characters by mapping the unique colour assigned to each character in the image of the license plate 202 with a predefined colour information; and
an image post-processing module 218 configured to post-process the ^ T OFF! CiStogCofttocf-licciis^plate ?.02tp conyert^he ipcpgnized characters into a text form.

7. The system 200 for recognizing characters on the license plate 202 as claimed in
claim 6, wherein the localization module 212 comprising:
a deep learning based semantically segmenting module for the captured image;
a database having predefined information related to unique colour assigned to the license plate 202 by the deep learning based semantically segmenting module; and
a deep learning based image analyzer to analyse the unique colour assigned in the semantically segmented image and localize the license plate 202 in the image.
8. The system 200 for recognizing characters on the license plate 202 as claimed in
claim 6, wherein the character recognition module 216 comprising:
a deep learning based semantically segmenting module for the pre-processed image;
a database having predefined information related to unique colour assigned to each character by the deep learning based semantically segmenting module; and
a deep learning based image analyzer to map the colours assigned to each character in the semantically segmented image with the predefined colour information and recognize the characters on the license plate 202.