Actually, there is a concept of ruksati in Islam, but what you’ve described here isn’t the it. That is a cultural barrier that has no basis in Islam. In Islam it does denote when the wife starts living with the husband. While the ruksati function is not required to let the couple live as a couple, ruksati can also be withheld by the woman until the mahr has been paid.
As for the subject of the topic, we had the nikah and reception/walima afterward, but no other functions as such.