In the early 1950's, in order to revive the lost glory and the heritage of ancient Nalanda Mahavihara, his Excellency Dr. Rajendra Prasad, the first President of the Republic of India, declared that the ancient seat of Buddhist learning at Nalanda would be revived.
At the insistence of Ven. Bhikshu Jagdish Kashyap, the Government of Bihar established a research institute called "Magadh Institute of Post-Graduate Studies and Research in Pali and Allied Languages and Buddhist Learning" at Nalanda in 1951. It later came to be known as Nava Nalanda Mahavihara.
The inspiration behind the establishment of this institute was to develop a centre of higher studies in Pali and Buddhism along the lines of ancient Nalanda Mahavihara. From the beginning, the institute functioned as a residential institution, with a limited number of Indian and foreign students.
Situated on the southern bank of the historical lake, Indrapuskarani, the present campus is about 100 kms from capital city of Patna. Close to the northern bank lie the ruins of the ancient University of Nalanda.
Nava Nalanda Mahavihara is primarily a research institute, and emphasis has been given to research and publication projects. The Mahavihara published the entire Pali Tipitaka in 41 volumes and some commentaries in Devanagari script for the first time in the 1950's. Eight Nava Nalanda Mahavihara Research Volumes have been published. A selection of other publications related to Buddhism has been published as well. The scope of research and publications include Pali language and literature, Sanskrit Buddhist texts, Tibetan texts, Buddhist philosophy, cultural, social and religious history of Buddhist countries of Southeast Asia and other topics related to Buddhism.