India, initially, lost the number one ranking to Australia after going down 0-2 against New Zealand, but England's win in the fourth ODI on Friday had put the Indians back on top.
But Australia today registered a five-wicket win in the fifth and final ODI at Adelaide to take the series as well as the number one position in the ODI rankings table.
Australia started the series in second place with 114 ratings points, while England (111) were in third place.
At the conclusion of the series, Australia have earned three ratings points to finish atop the table with 117 ratings points, on par with India, but when ratings was calculated beyond the decimal point, Michael Clarke's men were ranked ahead of Mahendra Singh Dhoni's side.
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But if it lose even one of the two matches, India will stay in second place with a loss of one ratings point at 116, one behind Australia. Loss in both the matches will mean India drop two ratings points to finish on 115 in second place, two behind Australia.