Lakshmi Panchami is a Hindu festival celebrated in honor of Goddess Lakshmi, the goddess of wealth and prosperity. It falls on the fifth day of the bright half of the Hindu calendar month of Margashirsha. Devotees perform various rituals and offer prayers to seek blessings from Goddess Lakshmi for prosperity and abundance in their lives.

The festival is marked by the worship of Goddess Lakshmi and observing fasts. It is believed that Goddess Lakshmi bestows wealth, fortune, and happiness on her devotees on this auspicious day. People clean their houses, decorate them with rangoli, and light oil lamps to welcome the goddess into their homes.

Lakshmi Panchami is also celebrated with great fervor in Nepal, especially by the Newar community. The festival typically includes processions, music, dance, and feasting to honor the goddess. The day holds immense significance for devotees seeking blessings for financial stability and prosperity in their lives.