The article highlights the importance of transliteration in the field of machine translation, correct writing of personal and place names, and information retrieval. It provides an overview of various approaches, models and methods available in the field of transliteration. It shows the types of transliteration methods. The article also highlights the principles taken into account during the process of transliteration. It shows advantages and disadvantages of the proposed transliteration methods for different languages. It explains the accuracy of mentioned transliteration techniques through transliterated words. It is noted that proposed transliteration methods for one language may not be significant for others. Moreover, it may not be enough to apply only one method in the field of direct and backward transliteration of languages with different graphemes and phonemes. Therefore, different transliteration techniques have to be combined.