The Dashavatara, which chronicles the ten manifestations of Lord Vishnu, defines the Lord’s role very distinctly. Parashurama Avatara happens to be an exception. The manifestation as Parashurama which precedes Ramavatara finds presence in Krishnavatara also. Parashurama’s appearance in both Ramayana and Mahabharata has made some people wonder whether the two epics speak about the same person or different person who lived through the Treta Yuga and Dwapara Yuga.
Towards the end of Parashurama Avatara, Maha Vishnu had completed his mission and was reborn again as Rama. It is believed that in the last portion of Parashurama Avatara and the first portion of Ramavatara there was a combination of the human and the divine. The manifestation of Lord Vishnu as Parashurama lasted till he met Rama. An incident in the Ramayana speaks of a time when Rama was returning to Ayodhya with his bride Sita after his wedding, he was confronted by Parashurama.
The axe wielding Brahmin knew that Rama had broken the Bow of Shiva in the process of stringing it in order to win Sita’s hand in marriage. He was aware that the power of Maha Vishnu was split between the two Avataras. Parashurama waylaid Rama and challenged the prince of Ayodhya to prove his prowess by stringing the bow of Maha Vishnu. Rama was struck by the temerity of the Brahmin. He took the bow quietly and did the needful in a trice.
In that moment, the component of Maha Vishnu in Parashurama merged with that of Rama. However, the body of the Brahmin in which the Lord resided continued to live as sage Parashurama. As Raghava handed over the bow to Parashurama, he laid a condition. He told the ascetic that the latter could forfeit the merits of his penance or his physical mobility as a sign of his penitence.
Interestingly, Parashurama surrendered the Punya he had garnered over his lifetime and opted the power to be on his feet so that he could retire to the Mahendra mountains and spend his days in prayers. He went on to tutor great pupils like Bheeshma and Karna as he went on to live as the contemporary of Sri Krishna. The Lord reiterated the theory of Karma was applicable to one and all himself included!