The Tibetan New Year Celebration at the monastery begins with the monks gathering together at the monastic prayer hall. Special prayers are said at the gathering and the breakfast is served at the prayer gathering. There is a tradition of visiting the Lamas or the spiritual masters on the first day of the New Year, and it still continues to this day. The first day of the Tibetan New Year is sometimes referred to as the New Year of the Lama.

The New Year celebration is followed by the Great Prayer Festival which celebrates the victory of Buddha Shakyamuni over demonic forces. The highlight of this festival which begins on the 8th of the 1st Tibetan is on the 15th day of the same month, the full moon day. The prayers are held at Sera Thekchenling Prayer Hall, which is the common prayer hall for both Sera Jey and Sera Mey. During the prayer festival, those who have newly obtained their degree of Geshe Lharampa would participate in the debate sessions held between the prayer sessions. People from the nearby Tibetan villages would visit Sera. In the afternoon, there would be traditional dances. This is in accordance with the Tibetan tradition of sealing the end of an auspicious occasion with another auspicious gesture.

On the 29th and 30th of the first Tibetan month, a few candidates who are qualified for the degree of Geshe Tsongrampa would be awarded their Geshe degree. On 11th and 12th of the 3rd Tibetan month, those who are entitled for the degree of Lingse Geshe of the year would be awarded their degree. Those who receive their Rigram degree would be given them on the 20th and 21st of the 5th month of the year. The Lingse Geshe consists of two, the winter and the summer Lingse Geshe and they would be given their degree during the winter and summer debate sessions respectively. Those who receive their Geshe Lharampa degree would receive them on the 11th month of the year.

Prayer & Offering