Kathmandu – Nepal Rastra Bank (NRB) has suspended the digital banking service ‘Orange NXT’ of Laxmi Sunrise Bank. The central bank’s spokesperson, Kiran Pandit, confirmed the move.

He stated that the reason for the suspension has not been made public at this time. “There were issues observed in the bank’s system. For now, the service has been put on hold. Since services are suspended based on deficiencies in licensed institutions, this case should also be understood in that context,” Pandit explained.

Laxmi Sunrise Bank had launched the ‘Orange NXT’ service in collaboration with Phone NXT under F1Soft. The service was introduced with the aim of offering a seamless and fully digital banking experience through a mobile app. It claimed to provide features ranging from account opening to fixed deposits and goal-based deposits, positioning itself as a comprehensive financial management platform.