Step 1: Understanding the Concept:
Ancient India was famous for its monastic universities, which were massive complexes of learning.
Step 2: Detailed Explanation:
Nalanda University (Bihar) was the primary global hub for Mahayana Buddhist studies from the 5th to the 12th century CE.
It was patronized by the Guptas and later Harsha. It attracted scholars like Xuanzang and Yijing from China.
Vikramashila was famous for Vajrayana (Tantric) studies, and Takshashila was an older center for diverse Vedic and early Buddhist studies.
Step 3: Final Answer:
Nalanda was the world-renowned center for Mahayana study.