After being set a daunting target of 481 for a win, South Africa batted with extreme caution to crawl to a painstaking 72 for 2 in 72 overs at close of an eventful day at the Feroz Shah Kotla.
In their bid to bat out for a draw, South African skipper Hashim Amla (23 batting, 207 balls) decided to defend anything and everything that came his way with his ultra-defensive approach.
Rahane also joined the elite list of Indian cricketers, who have reached three-figure mark in both innings of a Test match.
Late Vijay Hazare (once), Sunil Gavaskar (thrice), Rahul Dravid (twice) and Virat Kohli (once) are the other Indian batsmen to have achieved the coveted milestone.
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India is the only team that can win this Test match but with the pitch getting slower and the turn on offer not being vicious, it will be some sort of challenge for Ravindra Jadeja (0/10 in 23 overs) and Ravichandran Ashwin (2/29 from 23 overs) to get the remaining eight wickets tomorrow.
Such was the frustration for skipper Kohli that he introduced his opening duo of Shikhar Dhawan and Murali Vijay into the attack trying to do something 'Out of the Box'.
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Amla took 46 balls to open and scored only six runs in his first 100 balls. If Amla and Co. Manage to save the Test, it will certainly be regarded as one of the great match-saving knocks in the history of the game.
Opener Temba Bavuma (34, 117 balls) also showed resilience facing 104 balls which included three streaky boundaries and a six off Ravichandran Ashwin.
This is the first time that two South African batsmen in this series have played 100 balls each in a single innings. This was after opener Dean Elgar (4) was removed by Ashwin, who was introduced in the fourth over. The Proteas still need 476 runs for an improbable win.
Rahane batted like a man possessed as he changed gears from a cautious to an attacking approach with effortless ease. Kyle Abbott was cut to the boundary while he used the pace of a short delivery from Morne Morkel to guide it over third-man fence for six.
Once he reached 80, Rahane slog-swept a half volley from Imran Tahir over deep mid-wicket for his second six. In the very next over, Dane Piedt met with the same fate as Rahane danced down the track to hit another six.
Wriddhiman Saha (23 not out) added 56 runs in only 14.1 overs with Rahane.
Skipper Kohli (88) must be a disappointed man as he missed out on a well-deserved 12th Test hundred, managing to add only five runs to his overnight score of 83.
It was a delivery from Abbott that was angled in and it kept low after pitching, hitting Kohli in the leg-middle line. Umpire Bruce Oxenford ruled it in favour of the bowler after some deliberations.
At one stage, Jadeja was on a hat-trick after he removed Wade and Lyon in consecutive deliveries of his fourth over of the day. But Hazlewood denied him the feat as the Australian took a single with a defensive push.
Jadeja though had the last laugh as he removed Hazlewood in his next over as the batsman attempted a big swipe, only to end up skying it to long-on for Lokesh Rahul to take the catch. Jadeja ended with innings figures of 6 for 63 in 21.4 overs.
Ashwin ended with innings figures of 2 for 84 from 49 overs.