The first Buddhist College, Suagata Bauddha Mahavidyalaya (Sugata Buddhist College) established by Nepal Buddhist Council for studying Master of Arts in Mahayana Buddhism was inaugurated on 11 August, 2012 amidst a grand function. This college affiliated to Lumbini Buddhist University was inaugurated jointly by Dr. Triratna Manandhar, the university vice-chancellor, and Mahiswar Raj Bajracharya, Chairman of the college working committee. In the programme, which started with the offering of five precepts by Venerable Monk Sangharakshita, Professor Suvarna Shakya delivered the welcome speech while General Secretary Purna Man Chitrakar furnished detailed information on the activities of the council. In the programme, the advisor Tej Raj Shakya highlighted on the importance of charity while Dr. Tri Ratna Manandhar expressed how the university had given affiliation to five colleges in this year (2012) and extended best wishes for the success of the new college. Likewise, the College Principal Dr. Sanu Bhai Dangol highlighted on the features of the courses of study.

In the programme, the Council Vice Chairman Dr. Laxman Shakya extended vote of thanks. Speaking from the chair, Chairman of the programme Mahiswar Raj Bajracharya expressed his opinion on the necessity of running classes on Mahayana Buddhism. In this context, he expressed that the Buddhist monasteries, established formerly for running classes on Buddhism, have now turned in to the locations of ritual worship and feasting merely; most of the Buddhists have remained Buddhist merely by birth and not by action; and, hence, there is the need of bringing awareness in this regard. He also expressed that there should not be any competition between the Buddhist Colleges themselves.