Update on ICC Rankings
Yesterday night, International Cricket Council released ICC Cricket Rankings for each team based on their rating points converted from points gained in each series in the last 4 years, where the team performance in the last 3-4 years where removed while the performance and points earned in the last 12-24 months were added on weighing 50% from 100% in each may. In this rating system, it is also based on the team's rating before the series on a difference of either less than 40 or 40+, while in less than 40, if the team wins, the opponents' rating points are added with 50 while losing opponents' rating points subtracted with 50, which both were earned in the series. Series points are so simple, that for a win earn 1 point, for a series win a bonus point, for both match tie and series tie it is 1/2.

Coming in the terms of India, I personally think in the last 4 years, the single match loss against West Indies(series won), Sri Lanka, Bangladesh etc. and also the series of losses against New Zealand, Australia (ODIs), Test loss against South Africa, whitewash against New Zealand also loss against England affected much, even though winning quite a large number of series in past 4 years.
In other words, every match is important to win in effect to the ratings but it is impossible to win each and every match, so it is better not to lose big match series. India is currently on No 3 spot in both Test and T20Is while No 2 spot in ODIs, respectively as in ODI format, India have lost just two series, while winning most matches. Even in terms of womens' team, India is currently in 2nd position.
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