In this research study, a multipurpose image water-marking approach was developed for delivering selfrecovery, ownership verification and tamper localization of the cover image. For robust watermarking, color and grayscale images were used to deliver wide applicability and generalization to proposed work. Initially, the cover image was converted into wavelet domain by using Integer Wavelet Transform (IWT) and then the logo image was encrypted by using chaotic logistic mapping. This procedure makes the digital image free from false positive error and also helps to provide decent capacity. After encryption and transformation, Least Significant Bit (LSB) was used to provide self-recovery feature as well as to locate the tempered region in the digital image. Then, asymmetric encryption algorithm: Rivest-Shamir-Adleman (RSA) was utilized to improve the hidden data security with high computational efficiency, and good embedding capacity. Finally, the experimental outcome shows that the proposed approach delivers a high secure network with low computational complexity by means of entropy value and Peak Signal-to-Noise Ratio (PSNR). The proposed approach improved PSNR value upto 19 dB and entropy value upto 0.07-0.7 compared to the existing methods: Discrete Cosine Transform (DCT) + Arnold transform and differential evolution algorithm.