Will Jan Lokpal in its full force be able to effectively eradicate corruption?

The year of 2011 saw a great movement in India against the rising corruption level in India. Led by Anna Hazare and his team the citizens of India irrespective of region, religion, caste, gender or color came out on the streets to show their frustration towards the rising corruption and to show their support for the Lokpal bill drafted by Team Anna. But will the Jan Lokpal be really that effective as people as expecting it to be? Will this institution be so effective in eradicating corruption from India? If yes then how and if no then why not?