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Matsya Jayanti is a day which is celebrated as a birth day of first incarnation of Lord Vishnu on the earth as Matsya Avatar. On that day lord Vishnu had born as a one horned fish. He had born as on the 3rd day of Shukla Paksh of the month of Chaitra month according to the Hindu calendar.
Lord Vishnu warned to people about the time of Mahapralay on the earth. Lord Vishnu also destroyed the demon Damanaka. Matsya Avatar of Lord Vishnu does not the significance for paying the deity or any ritual performance according to Hindu religious history. But in ISCKON temples and other temples of religion of Vaishnava organizes various programs on that time. They worshiped to Matsya Avatar of lord Vishnu for batter fortune and for peace.
Nagalapuram Veda Narayana Swamy Temple near to the Tirupati in the state of Andhra Pradesh is the only temple in India of this Matsya Avatar of Lord Vishnu.
This was the first incarnation of lord Vishnu which give us awareness about that how developing the earth with ten incarnation of the supreme power of world. People engaged with various ritual acts like fast during this festival.