Happy Rishi Panchami Greetings Message: The festival of Rishi Panchami is celebrated on the day of Bhadrapada Shukla Panchami and this festival comes every year on the next day of Ganesh Chaturthi. Rishi Panchami is a celebration of the glory and wisdom of the inspirational sages of India. Sapta Rishis are worshiped on the day of Rishi Panchami. It is believed that by observing a fast on this day a person becomes free from all the defects.