This day has great significance in the state of Maarashtra in India. Goddess Lakshmi devi and Sri Rama are worshipped on this particular day. This day’s penance is called “Kojagari Vratam” or Kojagari Lakshmi Puja. In the midnight Lakshmi puja is performed and coconut milk is offered to guests. People also believe that on this night, Goddess Lakshmi Devi comes to everyone’s houses and asks “who is awake drinking coconut milk?”.
“Ko jaagar” means “koun jaaga hai” in hindi or who is awake. The belief is that whoever is awake this night, gets the best blessings of Goddess Lakshmi (Goddess of wealth).
Also, Sharad Poonam (the night of the full moon) was the night that Lord Shree Krishna did raas leela with the Gopi’s of Vrindavan. This night was one of the longest nights and where all the Gopis engrossed themselves in the dance with Shree Krishna. Traditionally everyone would wear white clothes and have a raas garba to mark this day and do Raas Garba and Dandiya.