Propelled by inflows in public offerings of state-owned undertakings, including that of the Oil and Natural Gas Corporation, India's foreign exchange reserves jumped by a record $3.37 billion to cross the $116 billion mark for the week ended April 9.

The country's forex reserves rose from $112.68 billion to a new peak of $116.060 billion in the period under review, according to Reserve Bank of India's weekly statistical supplement issued in Mumbai on Saturday.

Foreign currency assets also surged ahead by $3.385 billion at $110.56 billion, it added.

The revaluation of the US dollar vis-a-vis other currencies and export remittances were some of other reasons for the massive increase in forex reserves.

Gold reserves and special drawing rights remained static at $4.198 billion and $2 million, respectively.

India's Reserve Tranche Position with the International Monetary Fund declined by $15 million to $1.3 billion, the central bank added.

Loans and advances to central government continued to have a nil balance while that to state governments increased by Rs 1,468 crore (Rs 14.68 billion) to Rs 4,536 crore (Rs 45.36 billion), the RBI said.

Aggregate deposits of scheduled commercial banks were up substantially by Rs 40,825 crore (2.7 per cent) to Rs 15,42,757 crore as on April 2.

Bank credit during this period also increased by Rs 32,054 crore (3.8 per cent) to Rs 8,67,436 crore.

Food credit grew by Rs 1,011 crore to Rs 36,973 crore, while non-food credit rose by Rs 31,043 crore to Rs 8,30,463 crore, RBI added.