It is the story of two sisters, Aditi and Diti, both married to Kashyapa.
Aditi is widely considered the mother of the Gods, because I guess her lineage, the adityas, won out.
Bali, grandson of Prahalada, who in turn is a son of Diti's son Hiranyakashipu.
And Holika who is a daughter of Diti.
So three of Vishnu's avataras were to neutralise just Diti's descendants.
So overall a Diti "mukt" Bharat. But not quite. We still remember Prahlada, Bali, Holika ...
Be as it may, today is about Bali, a generous and wise King. Who returns to his subjects.
Happy Deepavali!