The order comes a week before June 2 when Telangana will be born as the 29th state of the country.
A Rashtrapati Bhavan communique said the President has appointed Narasimhan to discharge the functions of the Governor of Telangana, in addition to his present duties as Andhra Pradesh Governor until a permanent arrangement is made.
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"The above appointment will take effect from the date he assumes charge of his office," it said.
Parliament approved the creation of Telangana in its last session in February this year by bifurcating Andhra Pradesh.