In this paper a novel method to address the problem of enhancement and binarization of historic inscription images is presented. Inscription images in general have no distinction between the text layer and background layer due to absence of color difference and possess highly correlated signals and noise. The proposed technique provides a suitable method to separate the text layer from the historic inscription images by considering the problem as blind source separation which aims to calculate the independent components from a linear mixture of source signals, by maximizing a contrast function based on higher order cumulants. Further, the results are compared with existing ICA based techniques like NGFICA and Fast-ICA. Copyright 2014 ACM.