Newly-crowned IPL champions Royal Challengers Bengaluru have received Rs 20 crore for winning the 18th edition of the league while runners-up Punjab Kings got richer by Rs 12.5 crore.

RCB lifted their maiden title in the world's biggest T20 league by getting the better of PBKS by six runs in an exciting summit showdown here on Tuesday, ending a long wait of 18 years for the team as well as its talisman Virat Kohli.

Third-Place finishers Mumbai Indians earned Rs 7 crore for reaching Qualifier 2, while the fourth-placed Gujarat Titans were given Rs 6.5 crore for playing in the Eliminator.