• bhṛtye — as a servant
  Bhṛtya — one supported, a servant. Bhagavān self-designates as bhṛtya. In dāsya-rasa terminology, Kṛṣṇa is here playing the role His own greatest devotees pray to play forever (cf. Hanumān, Lakṣmaṇa).
• upāsīne — in attendance
  Locative present participle of upa + √ās — sitting near, in attendance. The same root as upāsanā (worship). Bhagavān is upāsīna (the attender) toward His grandfather — a deliberate reversal of upāsya/upāsaka roles.
• vibudha — the demigods
  Vibudha = the awakened ones, the devas. They will bow because they know who 'the servant' really is. Kṛṣṇa's identity leaks through His service, exalting the one He serves.
• balim haranti — will bring tribute
  Bali-haraṇa is the technical term for paying tribute to a king. Idea: the devas themselves will perform rāja-bali at Ugrasena's gate because Kṛṣṇa stands behind the throne.
• nara - adhipāḥ — rulers of men
  Nara-adhipa = lord of men, king. 'What to speak of human kings' — kim uta. The argument is a fortiori: if devas come, mortals follow.

• Padaseva Pr SB 10-45-14 Oriya
  His Grace Padaseva Prabhu· Oriya
• Bhanu Sw SB 10-45-14
  His Holiness Bhanu Swami· English

• Whose attendant are you actually, and what tributes follow from that?
• Where do you seek recognition that automatically follows the right alignment?

Kṛṣṇa says to Ugrasena, 'with Me as your servant, the demigods themselves will bring tribute' — the way a court official's whisper that the prince is in the room sends every petitioner to his knees. Bhagavān turns the very fact of His servanthood into the king's protection.