There's Valentine's Day for the love of your life, Father's Day and Mother's Day, but it is perhaps only in India that there is a festival dedicated exclusively to sibling bonds. Raksha Bandhan, or Rakhi for short, celebrated this month is the day when sisters all over northern India tie a silken thread on their brothers' wrist as a symbol of lasting love and loyalty.

The essentially Hindu festival, but one without any real religious significance and without any ritualistic prayers, falls on the full moon day of the month of Shravan in the Hindu calendar when the sky is laden with monsoon clouds.

The ritual itself is basic - a sister ties a 'rakhi' on her brother's wrist, puts a red vermilion 'tika' on his forehead and offers him a sweet. He, in turn, gives her a gift.

With the simple custom that has been celebrated for generations are all the colour, gaiety and tradition associated with any Indian festival.

Raksha Bandhan is a holiday in many parts of India and for days in advance markets are laden with all kinds of rakhis, gift hampers and sweets to suit every pocket. The rich may go for the diamond studded one or the gold plaited one, but for the poor, a simple thread does just fine.

There are special innovations for children with the Spiderman, Batman and Donald Duck rakhis, Bob the Builder ones and fighter planes too. Not to mention the aeroplane, sunflower and the mobile phone rakhis.

In some families, sisters tie rakhis to their sisters-in-law too. There are special creations for these called lumbas (hanging rakhis), pachelis (armband rakhis) and hathphools (palm rakhis).

It is big business in India and all these rakhis are also tagged in dollars and available online.

There's more. There are hampers of all kinds combined with handcrafted platters, in which the rakhis and the sweets are spread out, and an array of sweets.

Rakhi mailers can also be delivered on your behalf at short notice. The mailer includes a designer rakhi and a packet containing saffron leaves and rice (for the 'tika') with one cardamom and crystal sugar for the right auspicious touch.

Of course, if nothing else seems right, good old flowers to strengthen the bond will do just as well.

Notwithstanding the pressures of modern day life and the dilution of so many traditions, this is one that has survived through generations.

You may not meet your brother through the year, but most sisters will make it a point to go across town to meet him on the day or, if he is posted out, send a rakhi outstation or at least make sure she speaks to him.

Given the Indian joint family system, which may have eroded over the years, in most families rakhis are tied to cousins as well.

It's a time for families to gather, a special day that stands out in the calendar.

Like for Arpana, a busy journalist with three younger brothers who makes sure she's home to celebrate the day with them. In fact, she sticks to tradition and fasts till she ties the rakhis.

The anticipation begins days in advance. Shopping for new clothes for herself and for them, preparing their favourite food and simply bonding.

"It is a very important day for my family and me. We make sure we spend the day together going out for movies and maybe for dinner. And I demand good gifts from them," she says.

There are many stories associated with the festival.

According to one, Rani Karnavati of Chittor in 16th century India, when she was threatened by Bahadur Shah of Mewar, sent a rakhi to Mughal emperor Humayun, instantly forging a bond that transcended religion. Humayun abandoned an ongoing military campaign to ride to her rescue.

The origin of the festival is also attributed to mythological incidents.

According to one of these, Indra, the king of gods, had lost his kingdom to the demon Asura Vritra. At the behest of his Guru Brihaspati, Indra's wife Sachi tied a thread around her husband's wrist to ensure his victory in the upcoming duel.

Another legend says that after killing rival Shishupal, Hindu god Krishna was left with a bleeding finger. Draupadi, the wife of the Pandava princes, tore off a piece of her dress and tied it around Krishna's wrist to stop the flow of blood. Touched by her concern, Krishna declared himself bound to her by her love. He further promised to repay the debt manifold, and spent the next 25 years of his life doing just that.

Whatever the stories, the simple ritual they spawned lives to this day and celebrates a relationship that is so often overlooked.