Raikamal narrates the story of Rai Kamal, a devotee of Lord Krishna. Rai Kamal and Ranjan are childhood sweethearts. When Ranjan grows up he wishes his desire to marry Rai but his parents are against this match as they are Brahmins and Rai Kamal was a low caste Vaishnav.
The film explores the tragic fall of feudalism in Bengal during the British Raj. The title of the movie and the story is a reference to the plot simultaneously exploring a platonic relationship between a beautiful, forlorn wife of an aristocrat and a career-driven clerk.
