Rasika was born in Chennai to Arvind and Bhanumathy. Her grandfather, K. R. Balan, is a prominent film producer, who had produced more than 20 Tamil films. Also her father had produced several films. She has two brothers. Rasika is a Bharatanatyam dancer as she had learned Bharatanatyam during her school days. She studied in St. John’s, Besant Nagar where she was unanimously elected as the head girl of her school.
Rasika started her acting career in late 90’s, pairing with Telugu comedian Ali and she performed primarily in low budget films until her role in Telugu movie Khadgam, alongside Ravi Teja in 2002. Later she acted with Vikram, Surya Sivakumar and Laila in the National Award winning Pithamagan. Later, she appeared in the moderate hit Uyir as a possessive woman wanting her brother in law. She currently acted opposite Madhavan, in Evano Oruvan, produced by Abbas Burmawalla and Mustan Burmawalla. She also played a minuscule role in Kaalai. Her last film in Tamil before marriage was Dhanam which won her lots of rave reviews.
Rasika is a judge on Vijay TV’s hit show Jodi No.1. She was one of the three judges along with Silambarasan and Sundaram in Jodi No.1 Season Two and with S.J.Suryaah and Sundaram in Jodi No.1 and with Jeeva and Aishwarya Dhanush in Jodi No.1 Season Three. She was a guest judge during the finals of Vasantham Central’s Indian dance competition “Dhool” held in Singapore on 2008.
Rasika got married to film playback singer Krish on 1 February 2009 at the Arunachaleshwarar Temple in Thiruvannamalai.