Various works written by historians describe Ramu as "Pang-wa/Panoa" meaning the land of yellow flowers. Ramu area once enjoyed the status of a provincial capital in Arakan. 

The ruler of Ramu was called Pang-wa-ja by the Rakhine kings. It is said that during the reign of the first Rakhine King Chenda Thuriya (580-528 BC) of the Third Dhanyavati era, the Tathagata Gautama Buddha came to Arakan with his servant Ananda. It is also said that Gautama Buddha was accompanied by five hundred disciples. Gautama Buddha said to Ananda in a religious conference, "O Ananda! In the future my chest will be placed on the mountain on the eastern shore of the western sea. Then its name will be 'Rang-U'.'''Rang-U' is a Rakhine word literally meaning chest. 'Rang' means chest, 'U' means sternum. Linguistically, the word Rang-wu is phonetically and semantically similar to the word Ramu. 

This chaitya of Ramu is one of the 84,000 metal chaityas installed by Ashoka (273-232 BC), the third emperor of the Maurya dynasty. Built around 308 BC, the historical Rangkut Banashram Buddhist Vihara Ramu Buddhist Vihara is located in a beautiful environment on the hilltop of Rajarakul Union of Upazila. 

\When the existence of Ramkot disappeared in the course of time, the priest Jagat Jyoti Mahasthavir who came from Sri Lanka restored the Ramkot Buddhist Vihara in 1919. There is a forest hermitage with ancient Buddhist structures and antiquities. A large number of pilgrims and tourists throng here every year. 

At the foot of the ashram there is a Buddhist orphanage called "Jagat Jyoti Shishu Sadan" blessed by many countries including Brazil, France, Italy. During the construction of this ashram, the tombstones of the descendants of Danbir's late Poweja: Sejari (Khizari Dalal) located in Shashman of Ramur Rakhine community were destroyed. 

There are many orphan children in the ashram, they are studying here without any money. World poet Rabindranath Tagore wrote the novel "Rajarshi" while sitting at Ramkot. Kabiguru was the first to describe Ramu as the land of yellow flowers. However, the current Ramu was once famous as Ramyabhoomi as the foothold of Buddhist culture.   

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It is located in the hilly forest environment on the eastern side of the Chittagong-Cox's Bazar main road at Rajarkul under Ramu police station of Cox's Bazar district. Buddhist education and culture once flourished in the region centered around this monastery.