Nava Nalanda Mahavihara was established in 1951.

It is affiliated to the Magadh University.

The institute called "Magadh Institute of Post-Graduate Studies and Research in Pali and Allied Languages and Buddhist Learning" at Nalanda.

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.

The major accomplishment was the complete publication, in 41 volumes, of a critical edition of the entire Pali Tipitaka in Devanagari script.