The place Bageshwar has derived its name from an old temple of Lord Shiva located in the middle of the town. Legends and myths say that sage Markandey was once visited by Lord Shiva in the form of a tiger.The temple of Bagnath was built by the Chand Dynasty rulers in 1602A.D. Ever year, a fair takes place on the day of Shivratri. This temple is also visited by large number of devotees every month, mainly during the time of ‘Shravan'.