Sankhadhar Sakhwa
The Merchant Who Freed a Nation
Sankhadhar Sakhwa was a Newari merchant of Kathmandu whose extraordinary act of philanthropy changed the course of Nepali history. According to the historical manuscripts Bhasa Bamsali and Rajbhogmala Bamsawali, this common merchant — of low caste by birth — freed the entire population of Nepal from their financial obligations to the crown.
He accomplished this by panning gold from the sands of the Bishnumati river, accumulating sufficient wealth to repay all outstanding debts owed by the people of Nepal to the state during the reign of King Raghav Dev.
The Legend of Sakhwa
The later vernacular chronicles narrate a compelling tale about the founding of Nepal Sambat. According to a chronicle edited by Daniel Wright in 1877: when the king of Bhaktapur learned from an astrologer that sand taken from a certain auspicious moment at Lakhu Tirtha — at the junction of Bhatikhu and Bishnumati rivers — would turn to gold, he sent workers to collect it.
However, a Sudra merchant of Kantipur named Sakhwal persuaded the workers to bring their loads to his house instead. The sand that arrived at the king's palace in their second trip — not taken at the auspicious moment — did not turn to gold. The king, enraged, burned the astrological book.
Meanwhile, Sankhadhar Sakhwa, having obtained tremendous wealth from the gold, obtained the permission of the king and paid off all debts existing in the country. To commemorate this act, he initiated a new calendar era — Nepal Samvat — and had his own stone image installed at the southern door of Pashupatinath Temple.
Historical Significance
The veracity of the legendary account is difficult to test — the chronicler incorrectly places the event during the Malla period rather than the Thakuri period to which it actually belongs. This era of Nepalese history is called "The Dark Period" due to the absence of reliable coins, inscriptions, and contemporary documents.
Despite these historical uncertainties, what is certain is the exact date of the founding of Nepal Samvat — October 20, 879 AD — and the tradition that it was founded upon a remarkable act of collective debt forgiveness. Late medieval Tibetan manuscripts also reference the era as "the year of the cancellation of debts," providing external evidence supporting the local tradition.
The legendary founder's name itself is a linguistic clue. Most Newar traders with Tibetan outposts maintained a sakha kotha — a credit or transaction room. In Bhaktapur, a room called sakha kotha still exists in the locality of Kwa(tha)chem. In Prakrit, the word sakha means trade, transaction, and credit — suggesting that the name Sakhwal meant "merchant" or "creditor."
Legacy & Honors
Sakhwa erected his own stone image at the southern gate of the sacred Pashupatinath Temple — one of the holiest sites in Nepal — as a permanent memorial to the founding of the calendar era.
On 18 November 1999, the Government of Nepal officially declared Sankhadhar Sakhwa a National Hero — the first common citizen to receive this recognition posthumously in Nepal's modern history.
On 26 October 2003, Nepal's Department of Postal Services issued a special commemorative postage stamp bearing the portrait of Sankhadhar Sakhwa, cementing his place in national memory.
A sculpture of Sankhadhar Sakhwa was erected in Tansen, Palpa in western Nepal on 28 January 2012, extending his physical commemoration beyond the Kathmandu Valley.
The Government of Nepal decided to establish the Sankhadhar Sakhwa National Academy in honor of the founding father of the Nepal Era — institutionalizing the study and preservation of Nepal Sambat heritage.
The calendar he founded continues to be observed by Nepalis worldwide. With its reinstatement as the national calendar in 2007, Sakhwa's legacy endures in every date written in Nepal Sambat.