What meaning does the sentence in bold convey?

This hangs on the meaning of mind. In this context it is a verb. When prefixed by the exclamatory “O Rama” (a vocative), it becomes a command or request.

To mind = to remember a piece of information when you are making a decision or thinking about a matter

Cambridge dictionary

Vocative. The imperative is often used with a vocative. This is where you mention a person’s name or some other way of identifying the person to whom a command or request is being addressed.

Collins dictionary David, come here!

Hence, the bold prose is a request to Rama to recognise that our actions are directed by previous experience and not by our present circumstance.

Edited. Comments persuade me that there is an ambiguity here.

It has been argued that Rama is a god (this is additional context) and that Rama may not be commanded. However, it is often the cases that gods are prayed to (=requested rather than commanded) in terms of command. For example, in Christianity we have "Lead us not into temptation". That being so, my interpretation stands.

The argued alternative is that "mind our actions ..." = "please influence us to ...", which seems an odd sort of request - to ignore the present in favour of the past.