In the days when gods warred with the demons, the consort of Indra (the Puranic King of the Heavens) tied a rakhi (a silken amulet) around his wrist, by virtue of which, it is said, the god won back his celestial abode from his enemies.
Raksha Bandhan is celebrated in some parts of India as a festival to honour the sea god Varuna, where coconuts are offered to the sea Because of its three eyes, the coconut represents the three eyes of Shiva. As a mark of auspiciousness, coconuts are also broken at shrines and temples.
However, at most places, it celebrates the love of a brother for his sister. On this day, sisters tie rakhi on the wrists of their brothers to protect them against evil influences. In some places, before tying the rakhi, barley saplings are placed on the ears of the brother.
This is also the day set apart for Brahmins to change their sacred thread they wear.