Extraction and recognition of Bangla text from video frame images is challenging due to fonts type and style variation, complex color background, low-resolution, low contrast etc. In this paper, we propose an algorithm for extraction and recognition of Bangla and Devanagari text form video frames with complex background. Here, a two-step approach has been proposed. After text localization, the text line is segmented into words using information based on line contours. First order gradient values of the text blocks are used to find the word gap. Next, an Adaptive SIS binarization technique is applied on each word. Next this binarized text block is sent to a state of the art OCR for recognition.