69-year-old Kovind, who had been a two-time Rajya Sabha member between 1994 and 2006, hails from Kanpur in Uttar Pradesh.
His appointment comes barely a few months ahead of the Assembly elections due in Bihar. West Bengal Governor Keshri Nath Tripathi was holding additional charge of Bihar.
A lawyer by profession, Kovind had also been BJP's Scheduled Caste Morcha chief.
Whereas, Vrat imparts modern and traditional education through a 'gurukul' in Haryana's Kurukshetra. The institution is run by Arya Pratinidhi Sabha, Rohtak, Haryana without any financial aid from the government, its website says.
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He has been a recipient of American Medal of Honor awarded by American Biographical Institute towards selfless dedication in the field of social service, the website says.
"The President has been pleased to appoint Ram Nath Kovind as the Governor of Bihar and Acharya Dev Vrat as the Governor of Himachal Pradesh," a press release issued by Rashtrapati Bhavan said.
The appointments will take effect from the dates the incumbents assume charge of their respective offices, it said.