Eros International's Banjo is a story about the bonding between four friends who are part time band members, in order to supplement their incomes. The band consists of Tharat (Riteish Deshmukh), Grease (Dharmesh Yelande), Vaja (Ram Menon) and Paper (Aditya Kumar). Even though they make a great combination when it comes to creating music, the fact also remains that, they feel ashamed of telling everyone that they are the members of the 'banjo' band.
One day, the USA based DJ Chris (Nargis Fakhri) comes to India in search of Tharat's band members, in order to jam with them, as she wants to take part in an international music championship. Even though Tharat works as Chris' guide in Mumbai, he refrains from telling her about him being a part of the banjo band. If that want enough, Tharat (silently) falls in love with Chris.
Does Tharat ever muster the courage to confess his feelings for Chris, does Chris ever realise the real identity of Tharat and his band members, is what forms the rest of the film.