Raksha Bandhan is a Hindu festival that celebrates the spiritual bonding between brothers and sisters. It is celebrated on the full moon in the month of Shravan (August). The Bhavishya Purana refers to a battle between the Gods and demons where Indra (the king of the Gods) was feeling depressed.
At that time Indra’s wife Sachi took a thread, charged it with sacred verses/mantras for protection, and tied it on Indra’s right hand. Through the strength of this thread Indra conquered his enemies. Since then till today this festival is celebrated.
The word ‘Raksha’ means protection, while the word ‘Bandhan’ is a verb that means to tie. Traditionally, during this festival sisters tie a rakhi (a bracelet made of thread) around their brothers' right wrists to celebrate their relationship. As the rakhi is tied, a prayer is offered asking for happiness and prosperity. Brothers take an oath to protect their sisters and sisters pray to God for safety and well being of their brothers.