In accordance with an example embodiment a method, apparatus and computer program product are provided. The method comprises receiving a first set of frames corresponding to a scene captured by a color image sensor and a second set of frames corresponding to the scene captured by a panchromatic image sensor. A number of frames in the second set is greater than a number of frames in the first set. The method further comprises generating color frames corresponding to the scene at a frame rate higher than a frame rate of the first set of frames based at least in part on processing of the first set of frames and the second set of frames.