According to a legend, once the sage Markandeya asked Lord Narayana to show him a specimen of the divine power. Narayana flooded the entire world for a moment, during which only the Akshayavat could be seen above the water level.
Akshayavat of Prayag 
A sacred fig tree located within the Patalpuri Temple at the Allahabad Fort is worshipped as the Akshayavat by some Hindus. As of 2011[update], a permission from the Commandant of Allahabad Fort's Ordnance Depot is needed to visit this tree. On one day during the Kumbh Mela, the site is open to all the pilgrims.
According to the local belief, the sage Shukdeva narrated Srimad Bhagavatam to the king Parikshit under this tree.in Mamaidev"s sacred scripture, Akshay vat is also known as Prayag vat, the Mamaidev a great philosopher and predictor in 13th century,He described Sacred Akshay vat in his Holy scripture, Prayag vat and Sangam Allahabad is Holy Tirth/ pilgrimage of Maheshwary Meghwar, reference mamaidev.vinzoda.in/mamaidev-immortal-banyan-treeprayagvat.The Mamaidev preached to millions birds of Akshay vat.Prayag vat is the safe home of the millions Birds,where birds are making their nests and starting their new lives, and born at Prayag vat,which is Immortal tree at bank of 3 river connected, which is known as Holy Sangam. The mamaidev rested below this tree and Enlightened and Preached Dharama to poor Sinbharia Meghwar,MAMAIDEV said in his sacred Vedas...PANKHI YE KE PRAG VAD VHALO, MOR YE KE VHALO MEE. Birds Loves Akshay/ Prayag vat and peacock Loves Rain. mamaidev loved his elder son meghanand..reference from http://mamaidev.vinzoda.in..
In The Encyclopaedia Asiatica (1976), Edward Balfour identifies a banyan tree mentioned in Ramayana with this tree at Prayag, Allahabad. Rama, Lakshmana and Sita are said to have rested beneath this tree.
The Chinese Buddhist pilgrim Xuanzang mentions a tree (a stump with few branches) which was said to be the home of a man-eating demon. As part of a custom, some pilgrims would offer themselves at the nearby temple. Tsang mentions that the tree was surrounded with the human bones. General Cunnigham identifies this tree with the Akshayavat.
Other places 
See also 
- Kalpavriksha, a mythological, wish-fulfilling divine tree
- W. Crooke (2004). The Popular Religion and Folklore of Northern India (reprint ed.). Kessinger. p. 98. ISBN 978-1-4179-4902-1.
- Frederick J. Simoons (1998). Plants of life, plants of death (illustrated ed.). University of Wisconsin Press. pp. 80–81. ISBN 978-0-299-15904-7.
- The Sacred Complex in Hindu Gaya, Concept. Page 9.
- "Akshaya Vata: The Eternal Banyan Tree". The Himalayan Institute. 2001-12-01. Retrieved 2011-03-15.