According to the mythological belief it is said that the God of Water 'Varuna' is worshiped on this day, prayer are offered and thanked for giving a way of livelihood and good life. It is believed that the God protect them from the storm and help the sailor to get their livelihood for life with the grace of the God Varuna. People offer prayer and sweets in the name of God Varuna. All rituals and prashads are offered mainly made up of coconut, as the name suggest coconut means 'Nariyal' so this festival celebrated with name of 'Narali Purnima'. The main fruit offered during the prayer is 'Shirpal' which is considered to be divine because it contains both food and water in it, which is the prime requirement for human beings to survive. The hard body shell defines that one cannot get everything simply one has to struggle hard to get the requirement of life as the fruit of success can be enjoyed by the persistent effort towards it.
The festival celebrated at the end of monsoon season, and also marks the beginning of the new fishing season for the fishermen. They seek the blessings of Lord Varuna before starting a new season. The houses, boats and sea shores are decorated and local tribal dance, music is organised by the people. The tourists are welcomed with open heart and become a part of this amazing festival of zeal and enthusiasm. Different cuisine is prepared made up of coconut and various entertaining functions are organised by local people there. The festival is celebrated in such a way that everything goes smoothly so that it gives an indication that the coming year will be full of wealth, health and joy.
The various name of this festival are Shravani Pournima, Rakhi Pournima, and Raksha Bandhan. In many other states the festival is celebrated with different ritual and process but the significance is same. The change of seasons to seasons.