Nobel prize winner Prof Amartya Sen would be the new Chancellor of Nalanda International University.
A decision was taken at the meeting of the governing body of the university, its member and former Singapore Foreign Minister George Yeo said after the meeting today.
President Pratibha Patil had earlier sanctioned the appointment of the chancellor, Yeo added.
The governing board of Nalanda International University also decided to prepare the project report, discussed appointment of teachers and finalised the proposal for setting up of two Schools from July 2013, Yeo said.
Amartya Sen said the School of Historical Studies and School of Ecology and Environmental Studies would start functioning from July next year.
Each of the two schools would have 100 post-graduate students, he said.
The Centre had constituted a monitoring committee headed by Planning Commission Deputy Chairman Montek Singh Ahuluwalia for Nalanda International University and the committee has asked the governing board to suggest place to set up an international airport, for arrange good road and railway connectivity and search for 200 villages with archaeological importance in the district of Nalanda.
The project report for the airport, rail and road connectivity and identification archaeologically important villages would be submitted to the monitoring committee, Rajya Sabha member and governing board member N K Singh said.
The meeting also discussed how to raise funds for the university, Singh said adding the next meeting of the governing body would take place at Rajgir in February next.
The Architectural design competition for setting up the university was likely to be completed early next year, university vice chancellor Gopa Sabharwal said.
The meeting also discussed the proposal of Bihar Chief Minister for opening school of economics and basic science.