Watermarking emerged as versatile technique of hiding confidential or copy right protect information. The image embedded with watermark is often prone to several security vulnerabilities due to several attacks. It is desired to secure the information in the form of watermark by making it immune to these attacks. Several techniques are prevailing which use image transform techniques for efficient watermark de-noising and extraction. However, in the recent past the evolutionary computing techniques evolved as promising methods. In this paper, one such attempt of integrating the popular image transform techniques with PSO for developing efficient watermarking scheme. Embedding and extraction of the watermark are demonstrated and finally the efficiency of the technique is evaluated in terms of calculated PNSR. Gray scale image is used as WM image and a color image is considered for hosting the WM image. The technique utilises only one frame of the color image for hiding securely the WM image instead of conventional method of using all the three frames.