As it is held only in Lalitpur on the day of Shravan Shuklapaksha Ashtami, it is called 'Yal Panchadan'.
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According to Buddhist tradition, Yal Panchadan is given in Patan on Friday. On the occasion of Panchdaan, various Bahis, Bihar and devotees of Patan traditionally donate rice, paddy, wheat, salt, black soybeans, kheer, fruits and Dakshin to Shakya, Chailakya (those who perform chudakarma in the Chi Bhasham), Brahmachari Bhikshu and Bajracharya in their house courtyards.
त्यस्तै बिहारको दीपंकर तथा बुद्धका मूर्ति र ‘पौः बाः’ सजाई बाहिर प्रदर्शन गर्ने गरिन्छ । मंगलबजारस्थित बौद्ध चैत्यको सामुन्ने गुइत अजी (गुइत हजुरआमा) बा लक्ष्मी थकु नामले प्रसिद्ध अविवाहित महिलाको तर्फबाट पञ्चदान गरिएको हो । पञ्चदान गर्दा फुद्यो (अन्तिम पञ्चदान लिन आउने) नआएसम्म दान गरिराख्नुपर्ने परम्परा छ ।
लिच्छविकालमा पाटनको गुल्तङ ग्राम नामले प्रसिद्ध उक्त ठाउँमा सत्ययुगमा सर्वानन्द नाम गरेका राजाले आफ्नो दरबारमा दीपंकर तथागत र उनका शिष्यलाई निमन्त्रणा गरी सर्वप्रथम पञ्चदान आयोजना गरेको जनविश्वास छ । श्रावण शुक्लपक्ष अष्टमीका दिन ललितपुरमा मात्र आयोजना हुने भएकाले यसलाई ‘यल पञ्चदान’ भन्ने गरिएको हो ।
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