The Ranji squad was felicitated by the CCI, one of the affiliate members of the Cricket Board (BCCI), and presented with a cash award of Rs 5 lakh.
The under-23 team was given a cash prize of Rs 20 lakh by the IDBI Federal Life Insurance.
In addition, the insurance firm also awarded Rs 1 lakh each to four members of the Ranji squad - bowlers Balvinder Sandhu, Shardul Thakur and Dhawal Kulkarni, along with the top most scorer in the national championship, Shreyas Iyer, for their outstanding performances in the tournament.
Veteran journalist GK Menon was also feted for his contribution to Indian sports journalism by the insurance company.