Lalit Narayan Rajbanshi was born on February 27, 1999, in the cricket-loving city of Biratnagar. He took to the sport at an early age and honed his craft in local grounds before earning a spot with Nepal Police Club in 2017. Bowling slow left-arm orthodox, Rajbanshi quickly set himself apart from typical spin bowlers. Instead of relying on flashy variations, he built his game around pinpoint accuracy, subtle drift in the air, and immaculate control of length.

His rise to senior cricket came swiftly after strong performances in youth tournaments. In early 2018, Rajbanshi made his List A debut for Nepal against Zimbabwe during the Cricket World Cup Qualifier, followed by his T20I debut against the Netherlands that same year. By January 2019, he earned his ODI cap against the UAE. From the start, team management appreciated his discipline, often using him as an opening bowler to restrict scoring in powerplay overs.

Rajbanshi soon developed into one of the most economical bowlers in Associate cricket. His standout moment came in May 2023 during the ACC Men's Premier Cup final against the UAE in Kathmandu. On a tense day, his match-winning spell of 4/14 dismantled the opposition batting lineup, handing Nepal their first Asia Cup qualification.

The spinner also adapted smoothly to short-format demands. In June 2024, Rajbanshi represented Nepal at the ICC Men's T20 World Cup in the United States and the West Indies. Facing formidable opposition like South Africa and Bangladesh, he held his composure against aggressive batters and bowled disciplined spells. His success proved that classical left-arm spin, focused on flight, dip, and tight lines, remains potent in fast-paced T20 contests.

On the domestic stage, Rajbanshi became a marquee figure in franchise competitions. During the inaugural Nepal Premier League in late 2024, he spearheaded Janakpur Bolts to the championship title as the joint-highest wicket-taker with 17 wickets. He carried that form into 2025, producing a record-breaking campaign in the Prime Minister Cup with 41 wickets in just 10 matches while representing Nepal Police Club, winning the Player of the Series award.

His high level of performance continued through the 2025-26 season. He dominated the Jay Trophy with 26 wickets in four matches to claim the Best Bowler and Player of the Tournament awards, while remaining a frontline choice in Nepal's ICC Cricket World Cup League 2 campaign. Retained by Janakpur Bolts for the subsequent franchise seasons, Rajbanshi remains the bedrock of Nepal's bowling unit. His consistency in the white-ball format earned him a place in the Nepalese squad bound to Japan for the Asian Games 2026 as well.