The Board of Control for Cricket in India (BCCI) on Sunday announced a hike in prize money for all domestic tournaments.

The Ranji Trophy-winning side will now be receiving an additional ₹3 crore, which takes its revised total to ₹5 crore. The runner-up and losing semifinalist will get ₹3 crore (up from erstwhile ₹1 crore) and ₹1 crore (+₹50 lakh), respectively.

“I’m pleased to announce an increase in prize money for all BCCI Domestic Tournaments. We will continue our efforts to invest in Domestic Cricket – which is the backbone of Indian Cricket,” BCCI secretary Jay Shah tweeted.

More to follow…