sabhājayitvā - worshiping; vidhi-vat - according to scriptural injunctions; kṛta - to him (Nārada) who had done; āsana - of a seat; parigraham - acceptance; babhāṣe - He (Lord Kṛṣṇa) spoke; su-nṛtaiḥ - truthful and pleasing; vākyaiḥ - with words; śraddhayā - with reverence; tarpayan - gratifying; munim - the sage.

After Nārada had accepted the seat offered to him, Lord Kṛṣṇa honored the sage according to scriptural injunctions and, gratifying him with His reverence, spoke the following truthful and pleasing words.