India lost the No.1 spot in the Reliance ICC ODI Team Rankings after Australia's five-run win over England in the fifth and final ODI at Adelaide Sunday, which meant a 4-1 win in the series.
India need to win the remaining two ODIs against New Zealand to reclaim the top spot.
Australia started the series in second place with 114 ratings points, while England were in third place with 111 ratings points.
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 are calculated beyond the decimal point, Michael Clarke's men are ranked ahead of Mahendra Singh Dhoni's side.
England, on the other hand, have dropped two ratings points to finish on 109 in fourth place, one behind South Africa.
India, however, still have an opportunity to reclaim the No.1 rank they held since January 2013, if they win the remaining two matches in the ongoing series against New Zealand.
The five-match series is currently being led by New Zealand 2-0.
If India win both the matches they will go to the top with a gain of one ratings point to end at 118, one ahead of Australia.
But if they lose even one of the two matches, India will stay in second place with a loss of one ratings points at 116, one behind Australia. Loss in both the matches will mean India drop two ratings points to finish on 115 still in second place, two behind Australia.
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