Rakesh exhibited plenty of resilience and fighting qualities to overcome the strong challenge of Anil Mundhe of Jain Irrigation 25-16 25-22 to annex the men's title.
In the semifinals, Rakesh overcame his teammate and world no. 4 Riyaz Akbar Ali of Air India in straight games 25-0 25-9, while Mundhe downed Prashant More of Reserve Bank Of India 25-18 25-20.
Ali defeated More in a thrilling encounter 25-22 20-25 25-21 to finish third.
Earlier, in the semifinals Rashmi prevailed over former world and national champion S Apoorva of LIC Of India in straight games 25-8 25-12, while former world and national Champion IIavazhaki encountered stiff resistance before getting past Dipika Sinha of LIC 25-14 4-25 25-10.
Apoorva finished third by outgunning Dipika 25-20 16-25 25-22 in the placings contest.
The tournament was organised by the All India Carrom Federation, hosted by the Marashtra Carrom Association and sponsored by Bank Of Maharashtra.