Cheteshwar Pujara, regarded as a Test specialist, has also been included in the squad for the Asia Cup also to be held in Bangladesh from February 25 to March 8.
All-rounder Yuvraj Singh continued to be ignored for the ODI team but got the selectors' nod for the Twenty20 World Championships to be held from March 16 to April 6.
Rookie pacer Ishwar Pandey, all-rounder Stuart Binny and fast bowler Varun Aaron retained their place in the ODI squad announced by BCCI Secretary Sanjay Patel after a meeting of the selection committee here.
Opener Gautam Gambhir and veteran off-spinner Harbhajan Singh, who were picked in the Rest of India for Irani Trophy, were not named in the ODI squad.
The biggest casualty was, however, Ishant, who has been drawing flak for his poor performance in the limited overs format, as he was dropped from both the teams to be captained by Mahendra Singh Dhoni.
The axe on Raina was also largely expected as the left-hander has been in wretched form for quite a while now. In fact he was dropped midway through the ODI series against New Zealand last month which India lost 0-4. Raina has scored only one half-century (against Zimbabwe) in the last 24 ODIs
he has played.
Raina's poor form has prompted the selectors to turn to Pujara, who has been a prolific scorer in Tests.
Pujara's technique and his ability to score briskly will provide some much-needed stability to the Indian top order which failed miserably in the recent ODI series against New Zealand.
The teams are as follows:
Mahendra Singh Dhoni (C ), Shikhar Dhawan, Rohit Sharma, Virat Kohli, Cheteshwar Pujara, Ambati Rayudu, Ajinkya Rahane, Ravindra Jadeja, R. Ashwin, Bhuvneshwar Kumar, Mohammed Shami, Varun Aaron, Stuart Binny, Amit Mishra, Ishwar Pandey
ICC WORLD T20
Mahendra Singh Dhoni (C ), Shikhar Dhawan, Rohit Sharma, Virat Kohli, Suresh Raina, Yuvraj Singh, Ajinkya Rahane, Ravindra Jadeja, R. Ashwin, Bhuvneshwar Kumar, Mohammed Shami, Stuart Binny, Amit Mishra, Mohit Sharma,Varun Aaron