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The Board of Control for Cricket in India (BCCI) on Wednesday announced that One97 Communication Ltd, the company which runs the e-commerce payment system Paytm, has acquired the rights to sponsor India's international and domestic matches till 2023.

The winning bid was fixed at Rs 326.80 crore to be paid by the company to the cricket board in the next four years. 

Announcing the development, BCCI CEO Rahul Johri said: "I'm pleased to announce Paytm as the BCCI home series title sponsor. Paytm is one of the new generation companies of India and we at the BCCI are proud of Paytm continuing its long-standing commitment with Indian cricket." 

Vijay Shekhar Sharma, Founder and CEO, Paytm, said: "We are excited to continue our long-term association with BCCI and the Indian cricket team. Our commitment to Indian cricket gets stronger with every season. India loves cricket and we at Paytm are the biggest fans of it."