Now a days you can find a lots of Sadhus and preachers use this title, including many who are respected worldwide even. Are they authentic Jagatgurus or have been using simply, as this is a wonderful title.
As far I as I know this title is given by Kashi Vidwat Parishad in Varanashi, and titlesd to some one who can bring a radical change in the spiritual world like Dwetavad, Adwetavad, etc. And for these reasons this highest title was given to Adi Sankaracharya, Madhavacharya, etc.
Can some one expelain the use of this title being used commonly now a days.