A possible approach to solve the above problem is as follows:
Iin = rgb2gray(imread('test.png'));
I1 = imbothat(Iin,strel('diamond',5)),strel('diamond',1);
I2 = imopen(I1,strel('arbitrary',[1 1 1]));
I3 = imopen(I2,strel('arbitrary',[1 1 1]'));
I4 = ~imbinarize(I3,.8);
I believe that the OCR reader would be robust enough to read in these alphabets now.
Another approach specific to this image would involve addressing the 2 conspicuous noises: 1) Salt and pepper noise 2) Random lines
Removing the salt and pepper noise is pretty simple using a median filter.
Removing the lines may be slightly more complex. Consider using the hough transform to locate and remove the undesired lines. The example describes how to find the houghlines in an image:
You would now have to remove these lines and then perform basic operations to have it in the desired format.
Hope this helps!