India's foreign exchange reserves continued to surge ahead and neared the $74-billion mark following fresh inflows of $178 million to touch $73,918 million during the week ended March 14.

The country's foreign currency assets swelled by $178 million at $70,189 million, according to Reserve Bank of India's weekly statistical supplement released here on Saturday.

The foreign currency assets include the effect of appreciation/depreciation of Euro, Sterling and Yen held in reserves, the RBI said.

Gold reserves and special drawing rights remained static at $3,725 million and at $four million respectively in the reporting week, RBI added.

Loans and advances to Central government continued to have a nil balance but that to state governments declined by Rs 2,010 crore (Rs 20.1 billion) at Rs 4,060 crore (Rs 40.6 billion) for the week ended March 14, the apex bank said.

Aggregate deposits of scheduled commercial banks as on March seven rose by Rs 5,738 crore (Rs 57.38 billion) to Rs 12,78,020 crore (Rs 12780.2 billion).

Bank credit in the period under review grew by Rs 6,359 crore (Rs 63.59 billion) at Rs 7,14,622 crore (Rs 7146.22 billion).

Food credit decreased by Rs 511 crore (Rs 5.11 billion) at Rs 49,716 crore (Rs 497.16 billion) while non-food credit recorded an increase of Rs 6,870 crore (Rs 68.7 billion) at Rs 6,64,906 crore (Rs 6649.06 billion) in the fortnight, the RBI added.