Veteran Nepali Congress leader Ram Baran Yadav was today elected as the first President of Nepal.


This has defeated a Maoist-backed candidate and marked a shift in the political equation after the former rebels won the landmark elections in April.


Nepal's first President felt it was a historic occasion and a "matter of pride and happiness" that a common Nepali citizen like him could reach the "top and prestigious post".


It is considered as a key step to end the three-month-long political deadlock that has plagued the nation since the abolition of the 240-year-old monarchy.


However, Yadav bagging the top post may lead to further complications as the Maoists have now been sidelined by the three other major parties that ganged to deny the former rebels a share in power.


A farmer's son who made a remarkable journey to occupy the highest post in the newborn republic that abolished the 240-year-old monarchy, Yadav said he wants to take the peace process to its logical end and maintain friendly ties with both India and China.