56-year-old Prasad, an Additional Director in the IB and currently posted in Srinagar, had handled Kashmir desk in the country's internal intelligence agency in early 1990s.
A 1979-batch IPS officer from Andhra Pradesh cadre, Prasad assumes charge as DGP today relieving Special Director General K Rajendra who was in-charge till now.
"I will like to consolidate the gains made by the police force and lead them to make it the most modern force in the country," Prasad, who was posted during crucial period of 1999-2001 in Kashmir, told PTI.
A recipient of Police Medal in 1999 and President's Police Medal for distinguished service in 2006, Prasad brings with him an experience of over two decades in the central agency.
The post was earlier held by Kuldeep Khoda who retired on May 31 this year.
Prasad's name had been given in-principle approval by the state cabinet headed by Chief Minister Omar Abdullah in last week of May only.
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However, due to last minute procedural difficulties, Prasad's services were kept at the disposal of the state after he handed over the charge in Intelligence Bureau.
The Chief Minister signed the appointment of Prasad early this morning and according to it, the new police chief will be in office for two years or till further orders.