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Raksha Bandhan in terms used for 'raksha' means 'protection', and 'bandhan' means to 'tie', and is a special festival for brothers and sisters that falls annually on the full moon in Sravana (usually in August).
It is a festival that celebrates brotherhood and love. Girls tie 'rakhi', twisted red and gold threads, around the wrists of their brothers who, in return, usually give their sisters a present and blessings, and assurance to protect her in the every evil situation in her life.