In many ways the formative years of Ramkrishna Bajaj's life was conditioned and guided by Mahatma Gandhi and Acharya Vinoba Bhave. Ramkrishna Bajaj was still a minor when he got special permission from Mahatma Gandhi to participate in the individual satyagraha in 1941. Right from his youth he was in the public eye, as a student and youth leader, as a committed businessman and industrialist and as a civic leader. Ramkrishna Bajaj was at the forefront of social change. He increased the reach of education as the Chairman of the Shiksha Mandal, Wardha, which runs colleges and a polytechnic. He facilitated the propagation of the Gita's message, especially among school children, as the Chairman of Gita Pratishthan.

Ramkrishna Bajaj continued to keep alive the memory of his father Jamnalal Bajaj as a social worker par excellence. He set up, on behalf of the family, Jamnalal Bajaj Foundation to fulfil the ideals for which Jamnalal Bajaj had dedicated his life. And, to promote the kind of constructive activities in which he himself was deeply involved during his lifetime. Ramkrishna Bajaj steered significant charitable activities as the Chairman of Jamnalal Bajaj Seva Trust and Founder of the Jamnalal Bajaj Foundation.

Ramkrishna Bajaj has been held in very high regard by the business and industrial community for his probity and sense of fair play. Whether it was business or politics, he displayed an inherent quality of being ethical rather than materialistic. Ramkrishna Bajaj emphasized the importance of business goals being in line with society's good and was among the principal founders of the Council for Fair Business Practices (CFBP) and the Advertising Standards Council of India (ASCI).