She made her debut with a Marathi play by Lata Narvekar "Uncha mazha zoka'' with Avinash Masurekar and Smita Talvakar as co-stars. She was well accoladed for her performance. She held the credits for being a writer and director for the play ''White Lilly and night rider'' and also acted in it. She had been regularly featured in Ram Gopal Verma’s and Priyadarshan’s movies and made debut in Bollywood with the movie 'Ek Hasina Thi'.
The veteran actress has been very active in films and theatre as well as in television serials. She became a common name in homes with the Marathi serial “Parpanch” and ‘bua Alaa’. She wrote a script for a Marathi movie ‘Yanda Kartavya Aahe’. Her comic timings were excellent. Her most popular Hindi television role was in Ekta Kapoor's serial ''BANDINI'' where she was an antagonist.
Rasika Joshi was a very talented actress and could get into any given character very subtly. ''Not A Love Story'' was her last onscreen appearance because she was suffering from leukemia and in fact, she kept on vomiting blood on the shooting sets. Her dedication and commitment towards her profession were well reflected that despite being ill, she completed her last shot.