It falls on the third Tithi (Lunar day) of Bright Half (Shukla Paksha) of the pan-Indian month of Vaishakh.
The word "Akshaya" means the never diminishing in Sanskrit and the day is believed to bring good luck and success.
As per Hindus, this day is ruled by god Vishnu, the preserver-god in the Hindu Trinity. It is also traditionally celebrated as the birthday of the Hindu sage Parashurama, the sixth Avatar (incarnation) of Lord Vishnu.
According to Hindu mythology, on this day the Treta Yuga began and the river Ganges, the most sacred river of India, descended to the earth from the heaven.
It is believed that if one does charity on this day he will be blessed.
The day is considered auspicious for starting new ventures. The legend is that any venture initiated on the auspicious day of 'Akshaya Tritiya' continues to grow and bring prosperity.
'Akshaya Tritiya' is considered to be an auspicious time to buy jewellery and keeping this in mind, various companies introduces special packages on different items for the buyers.
Several jewellers offer discounts in making charges of gold ornaments on this day.
Jewellery brand Tanishq has announced an offer to celebrate the auspicious occasion of Akshaya Tritiya where it is is offering a free gold coin with every jewellery purchased.
The company is also providing discounts upto 15pc on the purchase of single diamond jewelry Rs 2 lacs and above.
The World Gold Council, in partnership with India Post and Reliance Money, is offering consumers a price reduction of 7 percent on daily prices for the purchase of gold coins from India Post offices to celebrate the festival of Akshaya Tritiya.
Senco Gold Jewellers in Kolkata has unveiled a special range of platinum jewellery, deity pendants and eternal white platinum Mahalaxmi Yantra coin this Akshaya Trithya to usher in good fortune.
Keeping the occasion in mind, Malabar Gold and Diamonds in Chennai unveiled an exclusive new platinum jewellery range.
--IBNS (Posted on 13-05-2013)