The foreign exchange reserves rose from $86.255 billion to $87.365 billion in the reporting period under review, according to Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday.
The foreign currency assets swelled by $1,018 billion at $83.642 billion for the week ended September 5, a day before new RBI governor Y V Reddy took over from Bimal Jalan.
This massive rise was mainly lead by the accretion of the rupee against the US dollar, analysts said.
Gold reserves at $3.720 billion, registered a growth of $92 million while special drawing rights remained unchanged at $3 million.
Loans and advances to the central government had a nil balance while that to the states declined by Rs 469 crore (Rs 4.96 billion) at Rs 3,505 crore (Rs 35.05 billion), the apex bank said.
Aggregate deposits of scheduled commercial banks rose by Rs 18,530 crore (1.4 per cent) to Rs 13,68,503 crore (Rs 13,685.03 billion) during the fortnight ended August 29.
Bank credit was up by Rs 4,699 crore (0.6 per cent) at Rs 7,32,000 crore (Rs 7,320 billion).
Food credit decreased by Rs 1,993 crore (Rs 19.93 billion) to Rs 41,284 crore (Rs 412.84) while non-food credit increased by Rs 6,592 crore (Rs 65.92 billion) at Rs 6,90,716 crore (Rs 6,907.16 billion), the apex bank added.