Parasuram Jayanti is believed to be the birthday or appearance day of Lord Parashurama. Parashuram is the fifth incarnation of Lord Vishnu. This festival is observed on Akshay Tritiya or the third day in Shukla Paksha during Vaishakh month in many parts of India. Sometimes it also falls on second day of Vaishakh Shukla Paksha, a day prior to Akshaya Tritiya.
In 2018, Parashurama Jayanthi date is April 18. In some places, Parashurama Jayanti is observed on Parashurama Dwadashi i.e. April 27.
Parsu is an axe-like weapon adopted by Lord Parasuram. Lord Parasuram was the sixth incarnation of Lord Vishnu. Parashuram was born in Satyu-Yuga and stayed alive till Mahabharata time (Dwapara Yuga). Some scriptures say that Lord Parashuram will stay alive until the Universe faces the Mahapralaya (deluge).
Parasuram Jayanti is celebrated with utmost fervor in Konkan area. Konkan region is called as Parashurama Bhoomi (the land of Parshurama) because Lord Parshurama is considered as the creator of the Konkan coast. Parsuram Jayanti in Kerala is celebrated in Vrishchika masam which comes usually in December.