All members of the victorious Indian Under-19 World Cup squad will be rewarded with Rs 15 lakh each, Board of Control for Cricket in India president Sharad Pawar [Images] declared on Sunday.

"The team has done a great job, have demonstrated there is a lot of potential in young players; the future of Indian cricket is bright," Pawar said while making the announcement.

The team will return to Bangalore from Kuala Lumpur on Monday.

"We have asked the Karnataka Cricket Association and all other colleagues to accord a befitting welcome to the winners," Pawar added.

The BCCI also announced a reward of Rs 10 lakh each for coach Dave Whatmore and other members of the team's support staff, BCCI's Chief Administrative Officer Ratnakar Shetty said.

The Indian team won the Under-19 Cricket World Cup crown after a gap of eight years beating South Africa by 12 runs in the final.