This festival takes place in late October or early November; it is the most important Hindu festival in the Asian world. In Nepal it is second only to Dasain. Honouring certain animals, offerings begin on the first day to crows (messengers of death sent by Yama), dogs (guiders of the departed souls across the river of the dead), cows and bullocks are honoured on days three and four. Other events within the festival include:
•    Deepawali (Festival of Lights): on the third day, Lakshmi, the goddess of wealth visits homes that have been suitably lit for her entrance (hence you’ll see brightly lit homes everywhere).
•    Newari New Year: the start of the New Year for the Newari people of Kathmandu Valley begins on the fourth day.
•    Bhai Tika: held on the 5th day, brothers and sisters meet and place tika on each other’s foreheads; gifts off sweets and money are exchanged.

More Festivals in Kathmandu
Bala Chaturdashi
Basanta Panchami
Bisket Jatra
Buddha Jayanti
Chaitra Dasain