India and West Indies have been hit with financial penalties after both teams fell short of the required over-rate during the third and final ODI in New Chandigarh on Saturday, with India receiving the heavier sanction.

India have been fined 20 per cent of their match fee after being found four overs short of the stipulated rate, while West Indies were fined 10 per cent for falling two overs behind.

The calculations were made after taking the available time allowances into consideration.

The sanctions were imposed by Prakash Bhatt of the Emirates ICC International Panel of Match Referees.

Both India captain and West Indies captain pleaded guilty to the respective offences and accepted the proposed penalties, ruling out the need for formal hearings.

The charges were brought by on-field umpires Jayaraman Madanagopal and Sam Nogajski, third umpire Sharfuddoula Ibne Shahid and fourth umpire Virender Sharma.

The disciplinary action came at the end of an ODI series that West Indies had already lost 2-0. However, the visitors signed off on a high as Shai Hope produced a stunning unbeaten 162 to power them to a historic victory in New Chandigarh.

Chasing 352, West Indies completed the highest successful run chase in men's ODIs, giving the visitors a memorable conclusion to the ODI leg of their India tour.

The two teams will now switch formats, with the five-match T20I series scheduled to begin on October 6.