Ranbir Raj or Raju (Raj Kapoor, using his original name) comes to Mumbai to create a name for himself and make a fortune.
After he loses all his possessions, he meets with Vidya (Nargis), a teacher who runs a private school, and both fall in love. Raj soon gets a job in a laundry and meets Maya (Nadira) when he goes to deliver some clothes to her. Maya finds that Raju is good with cards and takes him to a casino where he wins Rs.20000/-, which unfortunately is pocketed by Maya.
A rich industrialist, Sonanand Dharmachand, approaches Ranbir, hires him to work for him, and starts exploiting Raju's conscience by showing him money. Raju falls for the greed and soon differences start to create between him and Vidya.
Will Raju remain in this paradise forever or will he come to know about Sonanand's plan? Will Raju and Vidya have a happy ending?