Hardik Pandya and KL Rahul have both been suspended following comments made by the pair on the Indian talkshow 'Koffee with Karan'.
The pair will fly back to Indian and will be suspended until an inquiry into their behaviour takes place.
In a statement, the BCCI said: "The players are hereby suspended with immediate effect from participating in any manner whatsoever in any match or function or event or activity that is authorized, organized, sanctioned, recognized or supported in any way by the BCCI, the ICC or any State Association, until final adjudication of the matter."
Both players have apologised for their actions.
India's ODI series against Australia begins on January 12th before they go onto play five ODIs and three T20Is in New Zealand. Replacements for the duo will be announced in due course by the selection committee.