Sri Rameshwara Temple is the main Hindu temple of Thirthahalli. This temple is made of stone and is on the banks of the river Tunga. It is near the place Parashurama Thirtha which is discussed in the above section. The sanctum sanctorum of the temple has a Lingam which is said to have been installed by Sage Parashurama himself. The day when Parashurama cleansed his axe to remove the sesame-sized blood stain; is supposed to be the New Moon Day of Margashira month in the Hindu calendar. That particular day is termed as Yellu Amavasya day (Yellu meaning sesame and Amavasya meaning New Moon day) and every year on this day a festival termed as Yellu Amavasya Jatre is held in Thirthahalli.
Even though the festivities last for more than five days, three days are very important for the common public. On the day of Yellu Amavasya, the Utsava Moorthi (main idol) of Lord Sri Rameshwara is taken to the river and holy Abhishekam (consecration) is carried out on the idol in the Parashurama Thirtha. After this, the devotees take a holy dip at this place.
On the second day, the decorated temple chariot is pulled along the main street of Thirthahalli. This street; called as Car Street is a narrow street having a width of approximately 30 feet. The big chariot of the temple which occupies almost the whole width of the street, is pulled by devotees and the chariot even climbs a steep gradient on this road.
On the third day, the Utsava Moorthi is taken on a Teppa(raft) on river Tunga to the river bank at Kuruvalli and brought back. This celeberation is called Teppotsava (raft-festival). On this day, a lot of colourful crackers are lit and also the river banks, Tunga Bridge and Rama Mantap are decorated with lights.
This festival normally falls on last half of December or the first half of January. This festival attracts thousands of people from other cities.