Rakhi' is the traditional ornamental string that binds a brother & a sister relation with attention & responsibility. To Raju (Ashok Kumar) the love & affection of his only sister, Radha (Waheeda) was dearer than his own life. To Radha, Raju was father, mother & brother rolled into one. Radha falls in love with Anand (Pradeep) & marries him. But Anand's Sister (Lalita Pawar) is a poison-minded person and makes it impossible for Raju to stay in the same house as they were all staying in the same house after marriage. Raju sets out of his own house with his wife Malti. But Malti dies during child birth leaving Raju alone. Didi makes Radha serve a notice on Raju for division of their properties. In desperation he hands over everything to Radha & goes away in search of peace. Failing to find peace, Raju retraces his step back to his old house on Raksha-bandhan day. As he ponders over the past he sees a child lighting a fire cracker & was in danger of having an accident. While saving that child Raju loses his eyesight. He learns that the child is Radha's son. Radha rushes out to meet Raju & in joy of thankfulness ties the rakhi around his wrist. But this was the last breeth of Raju & he dies after that. When Anand enters the house to apologize to Raju, he sees that Raju & Radha are both dead.