Raksha Bandhan — 'the bond of protection' — falls on the full moon of Shravana (August). The classical story has several variants. In one, Lord Indra was losing his war against the demons; his wife Sachi tied a sacred thread on his wrist at Vishnu's instruction, and Indra returned victorious. In another, Draupadi tore a strip from her sari to bind Krishna's bleeding finger; Krishna in turn vowed to protect her, and later honoured the vow during the Mahabharata's cheer-haran episode by infinitely extending her sari.

In a later historical reading, Queen Karnavati of Chittor sent a rakhi to the Mughal emperor Humayun seeking protection from Bahadur Shah of Gujarat; Humayun, though too late to save her, kept the bond. The festival's modern form — the sister tying a thread on her brother's wrist, the brother giving a gift and vowing protection — is the household crystallisation of these stories.

The sister prepares a thali with the rakhi, kumkum, rice, a diya, and sweets. She performs aarti of her brother, applies tilak on his forehead, ties the rakhi on his right wrist, feeds him a sweet, and offers prayers for his long life. The brother gives a gift — traditionally money or jewellery — and vows to protect her.

Where there is no biological sibling, cousins, close friends, or any chosen bond can take the place. In recent years, rakhis are also tied to soldiers, priests, and political figures as gestures of public solidarity.