Mannar Mathai(Innocent) is in financial crisis as his drama company Urvasi Theatres has been closed. He has two people staying at his home as paying guests. One is Balakrishnan(Saikumar) and other is Gopalakrishnan(Mukesh). Balakrishnan comes to city for a job to pay off his debts. Gopalakrishnan is a jobless guy who lies to his sick mother that he has a good job.
Three of their lives take a turning point when Balakrishnan receives a wrong number from a kidnapper Ramji Rao(Vijayaraghavan).
This film was a surprise hit as it had many newcomers and not so popular actors. Story is fresh and humour was superb. This film sky rocketed several people's career. Its director duo Siddique Lal later made many cult blockbusters to their credit. Though they parted ways, they found success there also in their respective fields. Siddique became a successful independent director whereas Lal became a successful actor, producer and director. Mukesh got established as a medium range comedy hero. Innocent got flooded with offers and became a popular comedian of malayalam cinema after Jagathi Sreekumar. Though Saikumar never got lead roles after this, he became a popular supporting actor in 90s and 2000s. Ramji Rao Speaking also started a trend of low budget comedy films in Malayalam. Also several films like this came in malayalam where the protagonist tries to make fast bucks to solve their financial issues.
Overall Ramji Rao Speaking is a trend setting film.