Rakta Arya avalokiteshvara is one of the many forms of Avaloki-teshvara. According to a chronicle, Avalokiteshvara emanated himself as a son of Yaksha in Kamuni Kshetra in Assam. Rakta Arya avalokiteshvara was brought to Kathmandu with great effort by king Narendra Deva, Guru Bandhudatta and a farmer Lalita. In the seventh century Nepal there was a famine for twelve years. People suffered much due to drought. Following the suggestion of Acarya Bandhudutta the act of bringing a child who was the emanation of Arya Avalokiteshvara was carried out successfully. Nepalese people called this deity as Bungadeo. Every year a chariot festival is celebrated with great pomp and splendour in Patan city. All the valley citizens observe this festival with gaiety and happiness.
Rakta Arya avalokiteshvara is generally red in colour. Rakta Arya avalokiteshvara has four arms. Rakta Arya avalokiteshvara holds an arrow and goad with his right hands and bow and noose with his left hands. Rakta Arya avalokiteshvara stands under the Asoka tree, which has blossomed into red flowers. A bronze image of Rakta Aryavalokiteshvara is installed on the central courtyard of Hiranyavarna Mahavihara, Patan. The image of this deity is very rare. Only the human manifestation in the form of Bungadeo is popular in Kathmandu valley.