India has the same number of points (111) as Pakistan and New Zealand but now sits below both of them when the ratings are re-calculated to three decimal places.
The Rahul Dravid-led side will have the chance to regain that lost ground soon, with the ICC Champions Trophy starting on October 7 and that event, with 21 matches in 30 days, should ensure plenty more movement in the Championship table.
Australia, which had a lead of just four rating points over second-placed South Africa at one stage during the tri-series, has now extended the margin to seven points.
The West Indies, winners of last edition of Champions Trophy, now stands seventh in the table, three points clear of England and five rating points behind Sri Lanka.
Meanwhile, Australian batsman Michael Hussey, who averaged 152 in the Malaysia event, occupies the top of the ODI batsmen chart for the first time in his career from previous seventh position following a continuation of his outstanding form at the highest level.
Hussey is still six innings short of qualifying for a full ranking but his performances have already placed him among a select group of players. Only 12 batsmen have reached higher ratings than Hussey's mark of 805 points in the last ten years.
And although nobody has reached 900 rating points since South Africa's Gary Kirsten in 1996, the Australian left-hander could do exactly that if he continues to bat well in next month's ICC Champions Trophy.
Hussey replaces fellow Australian Adam Gilchrist at the top with the wicketkeeper not playing in the Malaysia tournament.
He has also leapfrogged his captain Ricky Ponting, who slips to fourth overall. West Indian Ramnaresh Sarwan has also moved above Ponting, into third position.
Brian Lara has moved up seven places over the course of the tournament, despite still languishing at an unusually low 25th, while the biggest mover is Australia's wicketkeeper for the tri-series Brad Haddin, who has risen 63 places to 94th spot.
After a poor tournament by his standards, India's Mahendra Singh Dhoni slips down two places to eighth position. Dhoni's stumble is good news for England's Kevin Pietersen and Graeme Smith of South Africa who each move up one place to sixth and seventh respectively.
Besides Dhoni, India has two other batsmen in the top 20 -- Yuvraj Singh in 13th spot and Dravid five spots lower down.
Among bowlers, following an excellent tournament in Malaysia, Australia's Brett Lee is back into second place though still well behind South Africa's Shaun Pollock who also retains his status as world's top-ranked all-rounder in ODIs.
Lee's team-mate Nathan Bracken has moved up to fourth in the bowling list, a career best placing, while Ian Bradshaw of the West Indies is unchanged in sixth place.
Meanwhile, after a decent performance in Malaysia, Indian off-spinner Harbhajan Singh retains ninth spot while Irfan Pathan lies one place below him and Ajit Agarkar in the 12th place in the bowlers listing.
LG ICC ODI Championship Table:
1. Australia (131); 2. South Africa (124); 3. Pakistan (111); 4. New Zealand (111); 5. India (111); 6. Sri Lanka (107); 7. West Indies (102); 8. England (99); 9. Zimbabwe (33); 10. Bangladesh (33); 11. Kenya (0)
Top 10 LG ICC ODI Batsmen List:
1. Mike Hussey (Aus) 805; 2. Adam Gilchrist (Aus) 789; 3. Ramnaresh Sarwan (WI) 769; 4. Ricky Ponting (Aus) 758; 5. Andrew Symonds (Aus) 752; 6. Kevin Pietersen (Eng) 749; 7. Graeme Smith (SA) 748; 8. Mahendra Singh Dhoni (Ind) 747; 9. Chris Gayle (WI) 727; 10. KC Sangakkara (SL) 723.
Top 10 LG ICC ODI Bowlers List:
1. Shaun Pollock (SA) 855; 2. Brett Lee (Aus) 784; 3. Shane Bond (NZ) 762; 4. Nathan Bracken (Aus) 760; 5. Glenn McGrath (Aus) 757; 6. Ian Bradshaw (WI) 752; 7. Daniel Vettori (NZ) 750; 8. Makhaya Ntini (SA) 703; 9. Harbhajan Singh (Ind) 700; 10. Irfan Pathan (Ind) 676 LG ICC All-rounders Rankings: 1. Shaun Pollock (SA) 459; 2. Chris Gayle (WI) 408; 3. Andrew Flintoff (Eng) 387; 4. Andrew Symonds (Aus) 358; 5. Irfan Pathan (Ind) 343.