Raksha Bandhan
It is a beautiful festival and falls on the 9th of August this year...I say that because the date changes every year according to the Hindu calender...Raksha Bandhan transcends faiths it has Universal appeal...
Raksha means 'protection' This Raksha' is considered two-fold. The sister ties a colored thread called raakhi (like a friendship band) on the brother's wrist to remind him that he is to protect her during times of adversity, and it is believed that the sister protects her brother by virtue of the fact that she prays that her brother is always saved from harm's way always, and in every way. Indrani tied it on Lord Indra's wrist to protect him while He warred with the Demons...

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http://dalsabzi.com/Language_Festivals/raksha_bandhan.htm