The third (Tritiya) day of the Hindu calendar’s Vaishaka month which falls in late April or early May every year is called Akshaya Tritiya. The Word Akshaya means eternal and Tritiya means 3rd in Sanskrit and Hindi too.
Quite a lot of legend is associated with this day:
- It is considered that Akshaya Tritiya was the day in which the so called Golden Age-Satya Yuga of the four periods in Hinduism started. It is also said that Lord Krishna gave the exiled pandavas an Akshaya Patram (never diminishing vessel) which literally means that the vessel would never become empty and hence ensure an eternal availability of food.
- Jain mythology has it that this was the day on which Tirthankara Rishabhdev, the erstwhile king of Ayodya, broke his one year old fast and hence it is considered a very auspicious day to indulge in religious gifting. Any gift given on this day becomes inexhaustible, it is believed.
- The story of Lord Krishna bestowing material gains on his poor friend sudama for the gesture shown by Sudama is also strongly associated with this day.
How Gold got associated?
Since the day is strongly associated with the word “never diminishing” people started buying Gold (which is supposed to never diminish) as they believed that buying gold on this day would ensure that they keep getting gold though out their lives or at least till the next year!
Till a few years ago the concept of Akshaya Tritiya was a predominantly Western India affair. But, more recently jewelers and marketers of gold turned it into an opportunity to encash on people’s belief and have gone gung ho in promoting the day across the country. Every shop selling gold does a great deal of business on this day.
From a customer’s perspective this is a golden day to buy gold as every shop/seller seems to be giving out great discounts and offers for buying gold. And going by the crowds thronging the streets like Lakshmi Road in Pune, North Usman Road in Chennai, Oppanakara Veedi in Coimbatore it is really a golden treat for buyers and sellers alike.
The Banks too are celebrating
Almost all banks have been offering rewards and offers for customers to buy gold from them. Here’s a look at some of the major bank’s offering on this day
Bank of India
The Bank is offering discounts on the purchase of gold on the Akshaya Tritiya day and also the days before and after it. i.e., 5th May 2011-7th May 2011. The discounts range from Rs 5 per gram for purchases below 100 grams to Rs 15 per gram for purchases above 1 Kg.
Karur Vysaya Bank
The bank is offering special discounts on its 20 Gram ingot and bars as well as 1% discount on purchase of more than 10 coins.
HDFC bank
Is selling gold imported from Switzerland Mudra Gold Bars are in 2.5g, 5g, 8g, 10g, 20g and 50g denominations.
Bank of Baroda
The bank is offering upto 2% discount (conditions apply) on it 24 carat gold coins
ICICI bank
The bank is selling gold even online. Customers can log into their website and order gold coins.
Union Bank
The Bank is giving 2% discount for purchases upto 50 grams and 3% for purchases above 50 grams for the period 02 May to 10th May!
Go for gold: Almost every bank has hopped on to the bandwagon of selling gold on Akshaya Tritiya. From the customer’s perspective it is really a golden time as he gets not only so many offers of discount and free gifts but is also bestowed by great service and a lot of options to choose from. Just walk into your near bank branch and be showered with Gold. Literally!