Sharad Poornima, also known as Sharadotsav, is observed on the night of full moon of Ashwin (September-October).
Lord Vishnu and
Goddess Lakshmi are worshipped on this day. It is believed that on this day, the moon is close to the earth and it through its beams shower Amrit (elixir) to the earth.
Ksheer, a sweet dish made of milk and rice, is prepared in temples and houses. It is offered to the deity and is kept in the moonshine the whole night. This dish is believed to have curative properties, and is served to the devotees the next morning. Apart from this, offerings such as bananas, coconut, sweets and cookies are made to the deity.
Lakshmi Puja is performed on this day. Sharad Poornima is also considered to be the day of manifestation of Swami Kartikeya.