Rashid, thus, took his two-day total to 12-under-128.
Chikkarangappa S of Bangalore shot a five-under-65 to be placed one shot behind Rashid in second place.
Rolex Rankings leader, Rashid (64-64) produced the best round of the day to climb from overnight tied second to the top of the leaderboard.
Rashid, the runner-up at last year's CG Open, boosted his chances of a title triumph this time around with the help of two eagles and four birdies against two bogeys.
The wiry golfer picked up a shot on the 15th after once again landing it within a foot. He finished in high spirits after collecting another birdie on the 16th and converting a seven-footer for his second eagle of the day on the par-5 18th.
"My hitting has been spot-on so far. I picked up three strokes early on and then just dropped a couple of strokes in the middle stages. However, I came back well on the last fourholes. It was great to finish the day with an eagle. I made the par-5 holes count as I made both my eagles on the par-5s and also picked up a birdie on the par-5 16th," said Rashid.
