In 1979 in memory and honour of the first president of India (1950-1962). Rajendra Prasad (1884-1963) this ghat was renamed, and made pucca by the Municipal Corporation of Varanasi.
In fact, this ghat was northern extension of Dasasvamedha Ghat. And until late nineteenth century a stone statue of horse was at the ghat witnessing the "ten-horses sacrifices" performed by Bhara Siva Nagas in second century, that is how the old name "Ghoda Ghat" ("Horse Ghat"). It is believed that same horse image is shifted to Sankatmochana temple. The myth refers that servants of Bhara Siva Nagas taken bath here.