Bumrah, who attained a career-best third position in the ODI rankings on Monday, has regained the T20 top spot after Pakistan spinner Imad Wasim slipped one place.
India captain Virat Kohli, who on Monday edged AB de Villiers to claim the top ranking in ODIs, also goes into the New Zealand series as the top-ranked batsman in the shortest format.
In the team rankings, India will do Pakistan a huge favour if they defeat New Zealand in the upcoming series, as such a result will see their arch rivals top the standings.
India are placed fifth at 116 points and can at best go to second position with a 3-0 win over New Zealand which will take them to 122 points.
Pakistan will reach the top rank with their tally of 124 points in such a scenario with New Zealand slipping to 114 points and fifth position.
Even a 2-1 series win for India will be enough for Pakistan to move to the top with New Zealand slipping to 121 points.