In a significant development, the Indian Cricket Boars (BCCI) on Monday introduced prize money for player-of-the-match and player-of-the-tournament award winners in all women's and junior cricket competitions at domestic level.

In a post on social media, BCCI secretary Jay Shah Shah announced that in men's cricket, prize money will be awarded for player of the match in Vijay Hazare and Syed Mushtaq Ali tournaments.

"We are introducing prize money for the Player of the Match and Player of the Tournament in all Women's and Junior Cricket tournaments under our Domestic Cricket Programme," Shah tweeted.

"Additionally, prize money will be awarded for the Player of the Match in the Vijay Hazare and Syed Mushtaq Ali tournaments for Senior Men. This initiative aims to recognize and reward outstanding performances in the domestic circuit.

"A heartfelt thank you to the Apex Council for their unwavering support in this endeavour. Together, we are fostering a more rewarding environment for our cricketers. Jai Hind," under our Domestic Cricket Programme," the top official added.

Last year, the BCCI had increased the prize money for the domestic tournaments with the Ranji Trophy winners receiving a whopping cash reward of Rs 5 crore.

The cash prize for Irani Cup too had been doubled with the winners getting Rs 50 lakh instead of Rs 25 lakh, and the team finishing runners-up got Rs 25 lakh.

In Duleep Trophy, the champions now get Rs 1 crore and runners-up team receive Rs 50 lakh, while winners of Vijay Hazare Trophy get a cheque of Rs 1 crore and the team finishing second best Rs 50 lakh.

Except for the headline, this story has not been edited by The Telegraph Online staff and has been published from a syndicated feed.