How much prize money will Jammu & Kashmir get for winning the Ranji Trophy?

Jammu and Kashmir won their maiden Ranji Trophy title after drawing the final against Karnataka but securing a huge 291-run first-innings lead. They scored 584 in the first innings and extended their overall lead to 633 runs, with centuries from Qamran Iqbal and Sahil Lotra. As champions, J&K will receive Rs 5 crore in prize money.