The main festival of the year is the Saptotsava (seven utsavas) festival, which is celebrated in the middle of January. On the first day of the festival the Deity of Sri Krishna is taken out on a boat in Madhva Sarovara. This is known as Teppotsava, or "float" festival. Then there is a huge chariot festival. For the first five days of the festival, two chariots are drawn each day.
On the sixth day, three chariots are drawn around the square. This is the day that Madhvacarya installed the Deity of Sri Krishna. On the biggest chariot (Brahma Ratha) is the Deity of Sri Krishna, and on the smallest chariot is the Deity of Mukyaprana. On the medium chariot are the deities of Anantheswara and Chandreswara. This is the only day of the year when three chariots are taken around the square. On the seventh day, the Deity is taken to Madhva Sarovar and bathed. Everyone else bathes at the same time, as it is considered especially auspicious.
Sri Madhva Navami (February) celebrates the disappearance day of Madhvacarya. There is a special puja (worship) done at the spot where he left this world in the Ananthasana Temple.