Vishnu keeps his promise to stand at Bali's door in Sutala and does not come home. On the full moon of Shravana Lakshmi goes down herself, ties a thread on Bali's wrist, takes him for her brother, and asks for her husband back.
Raksha Bandhan festival tradition (Gujarat's Baleva; Vaishnava retellings)
West India · Gujarat; told across IndiaVaishnava🪔 Raksha Bandhan
Bali's devotion moved Vishnu so far that he promised to be the king's doorkeeper, and he left Vaikuntha and stood at Bali's gate in Sutala. He did not come home. On the full moon of Shravana Lakshmi went down to Sutala herself. She tied a thread on Bali's wrist and called him brother, and Bali, as a brother must, offered her whatever she asked. She asked for her husband: without him, she said, she was living like a widow. Bali could not refuse and Vishnu could not break his word, so the three gods divided the guard: Brahma stands at Bali's door four months, Shiva four, and Vishnu the four months of the rains, the Chaturmas. Gujarat keeps the day as Baleva, for Bali who gave everything, and the priests still tie the raksha with the words that bound Mahabali, king of the asuras.
Sources: Swaminarayan (Bhuj): Raksha Bandhan, the stories of Indrani and of Bali and Lakshmi; ISKCON Educational Services: Stories connected with Raksha Bandhan; Wikipedia: Raksha Bandhan (the Bhavishya Purana Uttara 137 passage)