Pakistan took the top spot with 124 points in the International Cricket Council (ICC) Twenty20 International Team rankings released here on Wednesday.
With the recent series loss to India, New Zealand, who were at the top, have slipped from 125 to 120 points, with Pakistan taking the top spot.
India (119) gained three points and continued to remain at fifth spot, behind England.
In bowlers ranking, New Zealand bowlers Ish Sodhi and Trent Boult have made solid gains.
Sodhi entered the top-10 for the first time in his career while Boult reached a career-best 16th position after moving up 14 places.
Indian bowlers also moved in the right direction as pacer Bhuvneshwar Kumar jumped two places to be at 26th place, leg-spinner Yuzvendra Chahal vaulted 22 places to be at 30th place and left-arm spinner Akshar Patel is at 62nd spot.
In the batsmen rankings, India skipper Virat Kohli retained his top position. Openers Rohit Sharma (21st) and Shikhar Dhawan (45th) have also moved up.