Who · Lord Vāmanadeva, Bali Mahārāja, Garuḍa, Prahlāda Mahārāja, Indra
The story · The Lord covered the entire universe with two steps, leaving Bali no land for the third. Bali’s followers attacked but were defeated by the Lord’s associates, and Bali ordered them to stop fighting. Garuḍa bound Bali, yet Bali remained determined to honor his promise and offered his own head as the place for the Lord’s third step. Pleased with his tolerance and surrender, the Lord granted him residence in Sutala and agreed to become his doorman. Bali and Prahlāda entered Sutala, while Indra regained heaven.
What it teaches · Bali realized that the highest gain in life is devotional service under the Lord’s shelter in full surrender. The Lord explains that taking away material possessions can be His special favor.