Is it OK to say, ‘Myself is Rajesh’?

No, it isn’t; you cannot begin a sentence with the word ‘myself’. The correct way of saying this is ‘I am Rajesh’ or ‘My name is Rajesh.’

You use ‘myself’ only when you have used the word ‘I’ earlier in the same sentence.
For example, ‘I did all the cooking myself’ and ‘I am not particularly fond of dosas myself.’ You cannot say, ‘Myself did all the cooking’ or ‘Myself am not particularly fond of dosas.’

 Source: ‘Know Your English’ ( The Hindu) – July 23, 2007