Rakhi Pournami festival has various legends in Puranas and other sacred texts. Raksha Bandhan is also associated with the story of Goddess Laxmi and King Bali, who was a great devotee of Lord Sri Maha Vishnu. King Bali performed a sacrifice to take Lord Vishnu along with him to his kingdom. As Lord Vishnu blesses his devotees with great boons he accepted to be a guard in Balis kingdom. But how Laxmi could tolerate this? She went straight to King Bali in a form of a poor Brahmin woman and requested to stay there till her husband returns back.
The auspicious day has come – Shravan Pournami – the day to tie a sacred thread. Goddess Lakshmi tied the sacred thread to Bali. After tying the Raksha, she explained the whole matter. She requested him to send her husband Lord Vishnu along with her to Vaikunta or Vishnulok.
As Bali was kind and generous, mainly devoted to Vishnu and his consort, he felt her sorrow as his own sisters. Bali sacrificed his Lord for Lords wife and accepted to send Lord Vishnu along with Laxmi to Vaikuntam.
Since then, Raksha Bandhan or Rakhi Pournami festival is also called as Baleva. Thus, King Bali initiated the tradition of inviting sisters to brothers houses to get Rakhi tied on to brothers hands. Here is the reason why sisters are invited to their brothers’ houses during Rakhi festival or Rakshabandhan.