India have been fined 80 per cent of their match fee for a slow over-rate in a high-scoring ODI defeat to New Zealand at Seddon Park on Wednesday.

The tourists were four overs short of their target after time allowances were taken into consideration during the Black Caps' highest successful run chase in the 50-over format.

India captain Virat Kohli pleaded guilty to a sanction imposed by match referee Chris Broad, so a formal hearing was not required in Hamilton.

Ross Taylor made a magnificent unbeaten 109 not out and stand-in captain Tom Latham smashed a rapid 69 as the Black Caps ended a run of eight consecutive defeats with a four-wicket victory in their first game of the three-match series.

Shreyas Iyer (103) earlier struck a maiden international century and KL Rahul blasted an unbeaten 88 from 64 balls in India's 347-4, but New Zealand reached their target with 11 balls to spare.

Kohli said: "It was an outstanding performance by New Zealand, they batted outstandingly well. We thought 347 was good enough, but Ross is an experienced batsman and Tom's innings was the one that took away the momentum.

"Credit to Taylor and Tom. The opposition played better than us and they deserved to win. I think the debutants [Prithvi Shaw and Mayank Agarwal] gave us a good start and hopefully they continue.

"Iyer was outstanding getting his first ODI hundred under pressure, KL again. These are positives for us."