Amount: 150%, Radius: 1 and Threshold: 7.
There is another way as well for achieving this:

You can use Adobe Illustrator (or Freehand, or CorelDRAW) to put your text on a path and then save the your image in EPS format and use the Place command in Photoshop (under the File menu) to insert the text with the path.

Average: A very handy filter is the Average: In order to estimate the average value of a filter this is very essential. It is a simple step filter and very useful in calculating the average value of the selected area, it is also useful to smooth out an area with unwanted roughness or noise.

Blur Filters

The Blur filter is also single-step filter which is used to achieve the overall blurring of an image. Use the Blur More filter to achieve a massive blurring effect on your image.

Gaussian Blur: Radius controls is provided by this filter and adjust the blurring of that image more accurately.

Lens Blur: Blurring effect that comes with the images captured through the camera can be obtained through this filter.

Motion Blur: This blur effect gives the effects which are seen in the objects which are in motion.

Radial Blur: This blur gives the effect of blur, when the image of revolving tire is taken. This filter blurs the image by rotating the pixels around the specified center point.

Smart Blur: This filter allows you to apply blurring effect to the edges and other details in an image. It can be accessed in Adobe Photoshop’s menu bar under Filter / Blur / Smart Blur.

Tip: If an image contains unnecessary noise and roughness, it is better to blur the background of the image so as to bring more sharpness in the foreground.

Sharpen Filters

To correct the imperfections in your photographs, the Sharpen Filters are useful. If the contrast between adjacent pixels is required we use sharpening filters.

Sharpen Edges: This filter works on edges and adds sharpness to the edges without changing the quality of the image.

Sharpen More: This filter increases the contrast between all pixels of the image; however, it usually gives poor results for the large images.

Un-sharp Mask: If you want more focus for image the , un-sharp mask filter can bring out the hidden details. This filter looks for edges and those areas which are sharply defined and increases the contrast. This is used mostly for high resolution images. It has three sliders: 1. Amount, 2. Radius, 3. Threshold, and can be access in Filter > Sharpen > and Un-sharp Mask. They also help putting emphasis on important elements in a design. Essentially it increases the contrast between pixels in order to clarify and better define the image edges.

In adding or reducing the noise and grain in photographs the Noise Filters take a very important role. Though Reduce Noise Filters are available to work with old, damaged photographs which require repair work, Noise Filters also work with many other creative applications to help repair work.