Raksha Bandhan is celebrated in Shravana month during full moon day or Purnima day.
The best time to tie Rakhi on Raksha Bandhan is during Aparahna which is late afternoon according to Hindu division of the day. If Aparahna time is not available then Pradosh time is also suitable to perform rituals related to Raksha Bandhan.
Raksha Bandhan rituals should not be done during Bhadra. Bhadra is malicious time which should be avoided for all auspicious work. Most Hindu religious texts, including Vratraj, advise to avoid Bhadra time to tie Rakhi during Raksha Bandhan festival.
It should be noted that Bhadra prevails during first half of Purnima Tithi. Hence one should wait for Bhadra to get over before starting any auspicious work. In North India it is customary to tie Rakhi in the morning which might not be suitable time to do it. The DrikPanchang's team believes that it might be due to ignorance. When such information is easily available one should avoid tying Rakhi during Bhadra.
Some sources advise to avoid Bhadra Mukha and perform Rakhi ceremony during Bhadra Punchha if it has to be done during Bhadra in early morning. However our team was not able to find any authority to validate this belief.
To avoid doing Rakhi ceremony at an inauspicious time it is advisable to check some Panchang like DrikPanchang.com to find the right time to perform it. We list all Shubh timings which are available to tie Rakhi for most cities across the globe.
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Source: http://www.drikpanchang.com/festivals/raksha-bandhan/raksha-bandhan-date-time.html
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