Bungamati Karunamaya is known as Lokanath Lokeshwor. Lokanath Lokeshwor lies at the Bungamati. Local people say Bungadyo. Bungadyo of Patan is known as harbinger of rain which is indispensable for growing foodgrains. There are mainly four Karunamaya 1. Bungadyo or Lokanath karunamaya ( Rato Machchhindranath), 2.Anandadi Lokeshwor (Chovar Karunamaya ). 3. Aaryawalokiteshwor (Seto Machchhindranath). 4. Shristhikanta Lokeshwor (Nala Karunamaya) Apart from this, Buddhism occupies a most eminent position in Nepal. Guru Gorakhnath is the disciple of
Machchhindranath. Nowadays, they are known as Nath sampradaya which means of Nath community.
Shakyamuni Buddha was born in Nepal. The influence of Buddhism religion , the people were increasingly attracted to the life and deeds of Tathagata Buddha and Bodhisattvas. With the popularity of great Mahayana Buddhism, Bodhisattva Lokesvaras were conceived and their images were created in a large number. Due to the quality of Karuna (compassion) of Lokesvaras, they were also called Karunamaya. There are several meditation caves at the west side of the chovar gorge. It is believed that meditated here.