Bhambri's improvement in the ranking comes after his runner-up finish at the Chennai Open Challenger tournament.
The 25-year-old's career best ranking so far is 88, which he attained in November 2015.
Another Indian player Ramkumar Ramanathan jumped up one spot to sit at number 140.
In doubles, Rohan Bopanna and Divij Sharan were unchanged at 20 and 42 respectively while Leander Paes dropped at 49.
He was followed by his doubles partner Purav Raja at number 57.
In WTA rankings, India's number one in women's, Ankita Raina lost two places to occupy number 255.
Meanwhile, Karman Kaur Thandi moved down three places to 281.
In women's doubles, Indian star player Sania Mirza was unchanged at 14th spot. (ANI)