Narayan Bali and Nagbali Anushthan are performed for the fulfillment of unfulfilled desires and desires of human beings. Hence both are called Kamya (that which is according to desire). Narayanbali and Nagbali are two different methods.
The main purpose of Narayan Bali is to remove the Pitradosha and the purpose of Nagbali is to remove the sin of killing a snake or a serpent. Doing either of these methods does not serve the purpose, so both have to be done together.
Narayan Bali is such a vidhan, in which the missing person is treated as dead in the same manner as in the case of someone's death.