The Sri Krishna Temple's history is intertwined with the Dvaita philosopher Sri Madhvacharya, who is believed to have discovered the idol of Lord Krishna in a ship carrying clay. Madhvacharya installed the idol in Udupi in the 13th century. He established eight monasteries (Ashta Mathas) that manage the temple's affairs in a rotational system called 'Paryaya.' Each Matha gets a two-year term to manage the temple. The Kanakana Kindi is associated with the story of Kanakadasa, a low-caste devotee who was not allowed to enter the temple but was granted a vision of Lord Krishna when the deity turned to face him.