Australia have become the top-ranked nation in Tests and T20Is after the ICC released its annual update of the rankings, which discards results from the 2016-17 season. All matches played since May 2019 have been rated at 100 percent and those of the previous two years at 50 percent, according to the ICC media release.
India have failed to hold their No. 1 Test position for the first time since October 2016 while Pakistan's dominance in T20Is has taken a major hit following a 27-month reign at the top.
World champions England continue to boss the ODI standings where their lead over second-placed India has swelled from six to eight points.
India's demotion to the No. 3 spot in Tests is primarily caused by the fact that the rankings update does not take into account the 2016-17 period when Virat Kohli's men achieved 12 Test victories and endured a solitary defeat.
On the other hand, this has worked in Australia's favour as they had suffered losses at the hands of South Africa and India during the same period.
Australia's progress has been driven by their tremendous run under Tim Paine's captaincy over the past 12 months. With the suspended duo of Steve Smith and David Warner back in the team, Australia managed to retain the Ashes following a drawn series in England and were unbeaten throughout their home Test summer.
India still comfortably lead the World Test Championship table but the competition for the top position in the ICC rankings has become increasingly intense.
A total of two points separates Australia (116) from third-ranked India (114) while New Zealand (115) are sandwiched between the two teams.
South Africa's miseries in the longest format are reflected in their emphatic eight rating points fall, seeing them drop below Sri Lanka into sixth place.
In T20Is, Pakistan have lost 10 rating points and consequently plummetted to No. 4 with Australia topping the list for the first time since T20I rankings were introduced in 2011.
Pakistan had cemented a stronghold in T20Is in Sarfaraz Ahmed's leadership when they attained 11 series triumphs on the trot. However, their T20I struggles in 2019 and the removal of Sarfaraz as the side's skipper marks a sharp decline in the format.
Australia's ascendancy has been helped by their successive series wins against Sri Lanka, Pakistan and South Africa in recent months.
Afghanistan, who earned automatic qualification to the Super 12 stage of the T20 World Cup by virtue of finishing in the top eight, have fallen to 10th from the seventh spot.