Rachana married her co-actor, Siddhanta Mahapatra at Cuttack in 2004, but later they divorced and she left the Oriya Film Industry. She has since remarried to Mr.Probal Basu Deputy Manager of Tata AIG.
Rachana Banerjee has done about 35 film with Bengali actor Prosenjit. She also shared the screen opposite to Jishu Sengupta, Jeet, Ferdous, and Siddharta. She is also a popular choice for advertisers in Calcutta. Rachana acted in a couple of Hindi movies such as Amodini (1994) and Sooryavansham (1999) in which the main lead was played by Amitabh Bachchan in a dual role.