The present disclosure relates to a method and system for recognition of data in one or more images. The method receives and segments the one or more images to identify segmented objects. Further, the method generates an object relationship data for each of the segmented objects and determines a knowledge base representation of the object relationship data based on defined features. Furthermore, a Recurrent Neural Network (RNN) is trained based on the knowledge base representation to determine an appropriate Neural Network (NN) having optimum confidence score. Based on the appropriate NN selected, the objects in the input image is predicted and transmitted to external systems for decision making. Thus, enabling accurate text/object identification for the images having different background variations using the dynamic selection of NN, thereby facilitating more effective decision making.