Extract directory path and filename

dirname "/usr/home/theconjuring/music/song.mp3" will yield /usr/home/theconjuring/music.

You can simply do:

base=$(basename "$fspec")

bash to get file name

fspec="/exp/home1/abc.txt" 
filename="${fspec##*/}"  # get filename
dirname="${fspec%/*}" # get directory/path name

other ways

awk

$ echo $fspec | awk -F"/" '{print $NF}'
abc.txt

sed

$ echo $fspec | sed 's/.*\///'
abc.txt

using IFS

$ IFS="/"
$ set -- $fspec
$ eval echo \${${#@}}
abc.txt

Use the basename command to extract the filename from the path:

[/tmp]$ export fspec=/exp/home1/abc.txt 
[/tmp]$ fname=`basename $fspec`
[/tmp]$ echo $fname
abc.txt