In our religious scriptures and epics, Peepal has been described as Ashwath tree. Botanically it is known as Ficus religiousa. This name shows religious significance that is associated with Peepal. Our scriptures contain profuse mention of Peepal.
 According to Skand Purana, Lord Vishnu resides in the root of Peepal. In its trunk live Keshav and in the branches Narayan, in its leaves Hari and in its fruits live all the other gods. Thus from the tip of its root to the top of its shoot, Peepal is an idol of Lord Vishnu. Lord Buddha too had attained enlightenment beneath a Peepal tree. Peepal has been an integral part of our society. There would be no village where one cannot find a Peepal tree. The village Panchayats still gather beneath a Peepal tree in many villages. Watering Peepal with water and sugar is a sure remedy to undo the adverse influence of Shani.

There is a practice of tying a thread around Peepals trunk after watering it. There is a story behind this custom. At the time of seas churning, Goddess Lakshmi had emerged from the sea. Her counterpart Alakshmi also had emerged with her. Alakshmi symbolized penury and hence, there was no taker for her. She begged Lord Vishnu to take her also with Him. But Lakshmi was not ready to share Lord Vishnu with her, so she protested. Hence Lord Vishnu ordered Alakshmi to take an abode on Peepal tree. Since then, Alakshmi lives there. Anytime an unwary devotee forgets to tie a thread around Peepals trunk, Alakshmi comes to ride him or her causing great poverty. That is why custom of tying a thread around Peepals trunk after watering it came into practice. Shrimad Bhagwat Gita describes Peepal as the king of all the vegetation. Lord has made Peepal His symbol, hence all the scriptures forbid cutting of this tree.