The Board of Control for Cricket in India (BCCI) has announced a cash prize of Rs.1 crore to every playing member of the Indian cricket team and Rs.30 lakh to every support staff member following India's win in the ICC Champions Trophy 2013.
This was disclosed in a statement by Sanjay Patel, Honorary Secretary, BCCI.
India beat England by five runs in a thrilling final at Edgbaston, Birmingham, on Sunday.
Replying to India's score of 129 for the loss of seven wickets, England scored 124 for the loss of eight wickets in a match that was reduced to 20 overs a side due to inclement weather and repeated interruptions.
For India, opener Shikhar Dhawan was declared Man of the Series and received the Golden Bat, while all-rounder Ravindra Jadeja was declared the Man of The Match and received the Golden Ball.
Soon after the win, jubilant fans of the Indian cricket team danced and celebrated.
It was a youthful Indian side that held their nerve to hand England a fourth defeat in a final of an ICC tournament.
BCCI Vice-President Rajiv Shukla deemed the win as tremendous.
"I think it's a massive victory and very tremendous achievement by the Indian team and I would like to congratulate the Indian team and the BCCI and all the spectators and fans throughout the world. I think Indians have once again proved their mettle, because of that they had won World Cup and now they have won the Champions Trophy also. So, I think it's a great achievement," said Shukla.
"Amazing, amazing. I saw them win the World Cup in Mumbai and now I have seen them win the Champions Trophy here. Amazing. India are top team, top one-day team in the World. One-day champions," said Jai Kumar, a fan.
"They have really played well. Throughout the tournament they have played well and they deserve this trophy," complimented chief of the Sahara India Parivar, Subrato Roy.
Mahendra Singh Dhoni has now become the first captain to win all three major ICC trophies - the Twenty20 World Championship in 2007, the ICC World Cup in 2011 and now the Champions Trophy in 2013.
The undefeated streak of the Indian team in the tournament - they also won both their pre-tournament warm-up matches - also exorcized the ghost of performing on foreign pitches.
India, the number one ranked one-day team in the world, had entered the tournament after retaining only three players from the team that lifted the World Cup title at the Wankhede stadium in Mumbai in 2011.
A brand new opening combination, fresh faces in the middle order and a formidable bowling attack provided a perfect mix in this new and young team India. Captain Dhoni is the oldest player in the team at the age of 31.
The Indian team would now travel to West Indies to play a tri-nations tournament that also includes Sri Lanka.