Diwali is celebrated by Hindus, Jains, and Sikhs and Newar Buddhists to mark different historical events and stories, but they all symbolise the victory of light over darkness, knowledge over ignorance, good over evil, hope over despair.
Hindus across the world celebrate Diwali in honor of the return of Lord Rama, wife Sita, brother Lakshmana and lord Hanuman to Ayodhya from exile of 14 years after Rama defeated Ravana. To honor and celebrate Lord Rama, Sita, Lakshmana and Hanuman returning from Sri Lanka and to illuminate their path, villagers light Diyas to celebrate the triumph of good over evil.
Bandi Chhor Divas - Diwali for Sikhs marks the Bandi Chhor Divas, when Guru Har Gobind freed himself and some Hindu Rajahs, from the Gwalior Fort, from the prison of the Mughal emperor, Jahangir, and arrived at the Golden Temple in Amritsar. Ever since then, Sikhs celebrate Bandi Choorh Divas, with the annual lighting up of Golden Temple, fireworks and other festivities
Diwali has special significance in Jainism. Mahavira, the last of the Tirthankar of this era, attained Nirvana on this day at Pavapuri on 15 October 527 BCE, on Kartik Krishna Amavasya.
The Newar people in Nepal, who are Buddhist and revere various deities in the Vajrayana tradition, celebrate the festival by worshipping Lakshmi. The Newar Buddhists in Nepalese valleys celebrate the Diwali festival over five days, in the same way and on the same days as the Hindu Diwali-Tihar festival.