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1. Rama’s return to Ayodhya after Ravana’s defeat
As per the Hindu epic Ramayana, Lord Rama, his brother Laxmana and wife Sita returned to Ayodhya after a period of 14 years in exile after defeating demon king Ravana.
2. Krishna killed Narakasura
In Dwapara yuga, Lord Krishna, who is an avatar of Lord Vishnu, killed demon Narakasura, the evil king of Pragjyotishapura, near present-day Assam, who had held 16,000 girls in captivity. In Braj region in northern India, parts of Assam, and southern Tamil and Telugu communities, Narak Chaturdashi is viewed as the day on which Krishna killed Narakasura.
3. Pandava’s return to Hastinapur
The five Pandava brothers had been tricked into losing a bet in gambling after which their Kaurava cousins had banished them for 12 years. The Pandavas came back to Hastinapur on Kartik Amavasya, as per the Hindu epic Mahabharata.
4. Goddess Lakshmi’s birth
According another popular tradition, Diwali is celebrated as the day Goddess Lakshmi was born from Samudra Amntham, the churning of the cosmic ocean of milk by the gods and demons. On the night of Diwali, Lakshmi chose Vishnu as her husband and got married to him.