There have been two major recognized modern translations of the Bible from the original Hebrew language in which it was written. The first of these translations was undertaken by the Church of England in 1604, under the decree of King James I. This was done in response to the perceived inaccuracies in earlier translations. Thus the King James Version of the Bible was written, and is still hailed as the most accurate of the translations ever performed.
However, in 1975, in order to combat the antiquated language of the King James Version, a man named Arthur Farstad initiated a modern translation to update the vocabulary and grammar of the original King James Version. The fruit of the project was the New King James Bible, and although not quite as accurate as the original King James Version, has been updated to be understood and appreciated by modern audiences.