The name Sringeri is derived from Rishyashringa-giri, a nearby hill. Rishyashringa is a popular saint mentioned in the Ramayana and Puranas. The hilly region abutting Sringeri was known as Rishyashrungagiri. It later went to be called Shrungagiri and Sringeri.
Rishyashringa performed the famous putrakameshti yagna for the Dasharatha in the Bala Kanda of Ramayana.
Vibhandaka, father of Rishyashringa ,went into deep meditation at a shrine of Lord Shiva in the hill and his body got transformed into a bright light. This temple in known as Sri Mahalingeshwara Temple.
As per Hindu scriptures, Rishyasringa followed in the footsteps of his father and spent his last days in a shrine of Lord Shiva at the base of the beautiful hill and got transformed into a divine light. This shrine is known as Rishyasringa Temple. It is located at Kigga, a tiny village a few km from Sringeri.
The hills surrounding Sringeri are known as Rishyasringa Parvata. According to Hindu scriptures, the sage possessed the mystical powers of summoning the rain gods. Wherever, he stepped, it rained.
Poojas are performed at the Sri Rishyasringa Temple during droughts.
Sringeri Sharada Peetham, on the banks of Tungabhadra River, is the first of the four Amnaya Peethams established by Adi Shankaracharya.