Most religions have specific rituals and events in association with the appearance and disappearance of the Sun and Moon. The first full moon in January marks the beginning of the new year to those who follow the Mahayana Buddhism, believed to be the largest category of Buddhism.
Mahayana New Year is celebrated this year on January 7 by Buddhists around the world.
On this auspicious day, devotees visit the nearest local Buddhist temple to pray and glorify Lord Buddha. Statues and idols of Lord Buddha are also bathed as a show of respect. Attending prayer sessions by monks, reading holy books and revising His principles are the key activities done by people to mark their new year.
In English, Mahayana means "Great Vehicle," and has various interpretations. One of the most referred understandings: The word yana means vehicle or raft, which evokes the image of Buddhist teaching as a raft or vehicle that can help one cross over the river of suffering to the "other shore."