  Multi-carrier modulation techniques have now become a standard in many
communication protocols. Filter bank based multi-carrier (FBMC) generation
techniques have been discussed in the literature as a means for overcoming the
shortcomings of IFFT/FFT based OFDM system. The Peak to Average Power Ratio
(PAPR) is a problem faced by all multi-carrier techniques. This paper discusses
the methods for reducing PAPR in a FBMC system while maintaining acceptable Bit
Error Rate (BER). A new PAPR minimizing scheme called Constrained Reed Solomon
(CRS) coding is proposed. The hybrid techniques using coding and companding are
tested for different channel models and is found to yield promising results.
