its significance.....

It is considered as a brother and sister festival, though it means more than this. There have been examples in history where in rakhi has just been a raksha or protection. It could be tied by wife, a daughter or mother. The Rishis tied rakhi to the people who came seeking their blessings.
Raksha Bandhan assumes all forms of Raksha or protection, of righteousness and destroyer of all sin. The rakhi tying ritual has become so much a part of the families that come what may brothers and sisters try to reach out to each other on this particular day bringing back the oneness of the family, binding the family together in an emotional bond.
Some tie rakhi to neighbors and close friends signifying a peaceful co-existence of every individual. The day has a deeper perspective in today's scenario. The occasion holds for a life long pledge to practice moral, spiritual and cultural values. The values and the sentiments attached to the rituals of this festival are worth inculcating by the whole human race, the sentiments of harmony and peaceful coexistence.