During the Paryaya festival, held every two years, the temple management is handed over to the next Matha. Each of the Mathas is headed by a Swami, who will be in charge of the temple during his Paryaya.
The Krishna Matha is known throughout the world for its religious customs, traditions, and learning in Dvaita or Tatvavaada philosophy. It is also the centre of Daasa Sahitya, a form of literature that originated in Udupi.
Another important festival is Bhajana Saptaha which is held in Sri Laxmi Venkatesh Temple. Saptaha means one week. During this time Bhajans are sung continuously day and night for 7 days. This falls during August of every year.
Udupi, which previously had a Town Municipal Council now has a City Municipal Council which came into existence in 1995. Areas around Udupi, such as Manipal, Malpe and Santhekatte were merged to form the City Municipal Council.
Udupi was carved out as a separate district from the erstwhile Dakshina Kannada district on 25 August 1997. Udupi, Kundapura and Karkala were bifurcated from the Dakshina Kannada District and the Udupi District was formed.
The Udupi Urban Development Authority(UUDA) is responsible for town planning and other related development activities in Udupi and the surrounding areas.
The climate in Udupi is hot in summers and pretty good in winter. During summers(from March to May) the temperature reaches up to 40°C and in winters (from December to February) it is usually between 32°C and 20°C.
The Monsoon period is from June to September with average rainfall and heavy winds.
National Highway 17 passes through Udupi. Other significant roads include the State Highways to Karkala and Dharmastala and to Shimoga and Sringeri. The NH 17 provides a link to Mangalore and Karwar. Private as well as government buses connect Udupi to various parts of Karnataka. Udupi has a railway station on the Konkan Railway. The nearest airport to Udupi is Mangalore (Bajpe) Airport, which is 50 km away.
City and suburban transport is available for travel within Udupi and suburbs. The buses originate from the suburban bus stand (City Bus Stand). There are different route numbers.
The nearest harbour/port to Udupi is Malpe, which is 5 km away. New Mangalore Port/Harbour is 50 km away from Udupi.
Udupi is also the birth place of the Syndicate and Corporation Bank. Udupi's economy depends mainly on agriculture and fishing. Small-scale industries like the cashew industry, and other food industries and milk cooperatives are the most prominent. There is no large-scale industry in Udupi. The Karnataka Government had signed a memorandum of understanding (MOU) with the Cogentrix Light and Power Industry to set up a thermal power plant in the district at Nandikur. However, because of stiff opposition from citizens and environmentalist groups, the project has been temporarily suspended. An attempt by the Nagarjuna Power Corporation to set up a similar plant at nearby Padubidri also met strong opposition.
Udupi is also home to a well-known software company Robosoft Technologies, which is into product development for the Mac OS and Windows platforms. It is located at New Udupi(Santhekatte, Kallianpur). The company has brought Udupi a significant place in the global IT scenario. It is moving towards transforming this region into the 'Silicon Valley of India'.
Rathabeedhi Geleyaru, a local non-profit organisation, was founded to encourage creative pursuits, especially those that keep alive the traditions of the region. Its primary focus has been drama.
Adi Udupi-Kadiyali Road passing through Kalsanka (State Highway 25 Malpe-Molakalmuru) which is an arterial road of the city is being widened into a 80 feet four lane double road. This project has been a long pending demand of the Udupi citizens. The widening is currently under progress. The stretch between City Bus Station and Kadiyali is opened for traffic after widening. The project is likely to be extended upto Manipal. The widening of this road has resulted in increase of land prices in the surroundings.
The widening of NH 17 from Surathkal to Kundapur to a four lane highway will result in widening of the stretch which passes through the city. Two flyovers at Kinnimulky and Karavali Junction will be coming up and are expected to ease the traffic jams to some extent at those junctions.
Due to large inflow of foreign and NRI students to Manipal, Udupi is expected to get an airport for landing ATR type aircrafts. Capt. Gopinath, Chairman of Deccan Aviation has stressed on the need for an airport here.
A monorail project has been proposed for Udupi along with Mysore and Mangalore by Chief Minister of Karnataka Mr. B S Yadyurappa in addition to Bangalore. This is due to increasing traffic within the city day by day. The feasibility study is yet to be conducted.
Private real estate builders and developers have proposed building shopping malls and multiplexes in future due to high average per capita income of the people here. The boom has already started with the hypermarket "Big Bazaar" which has already opened its outlet in Udupi.