At the insistence of Ven. Bhikshu Jagdish Kashyap and with this goal in mind, 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.
Ven. Bhikshu Jagdish Kashyap became the Founder-Director of Nava Nalanda Mahavihara, and continued in that capacity until February 1955. One of his major accomplishments was the complete publication, in 41 volumes, of a critical edition of the entire PaliTipitaka in Devanagari script. It was very popular and quickly went out of print.
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 residential institution, with a limited number of Indian and foreign students.
The present campus of the Mahavihara is situated on the southern bank of the historical lake, Indrapushkarni. Close to the northern bank of the lake lie the ruins of the ancient Nalanda Mahavihara.
Nava Nalanda Mahavihara, Nalanda (NNM) is some 100 kms from Patna by road, Private and State Transport buses leave for Bihar Sharif every five minutes and pass through Nalanda on the way to Gaya. Tempos and taxis are available from Bihar Sharif. Nalanda is also 75 kms from Gaya by road. There is one train from New Delhi-Nalanda, 12391/12392 Shramajeevi Express. Many others trains come to Patna. The Nava Nalanda Mahavihara, Nalanda (NNM) is 03kms from the Nalanda Railways Station.