Wetland ecosystems (WE) are considered the most productive ecosystems on the globe which provide a range of basic and critical ecosystem services (ES) to humans. However, WE are constantly being degraded because of a poor understanding of social benefits at a local level and the lack of recognition of economic values for ES at sub-national and national levels. This study aims to compare a peri-urban wetland with a riverine wetland from lower Gangetic plain, Eastern India, to identify the bundle of ES based on its perceived importance from multiple perspectives at a local level. Participatory research tools have been employed (i.e., key informant interviews, household survey, and field observation) for data collection. Based on rapid assessment of wetland ecosystem services (RAWES) approach, a priority ranking analysis was used to examine ES. A Mann-Whitney U test was performed to find out significant differences in RAWES approach between riverine and peri-urban wetlands. Multiple regression model (MRM) was also performed to explore the impact of socio-demographic factors towards the perception of WES. Results showed that (i) the utilizations of WES largely vary between riverine and peri-urban wetland; (ii) provisioning and regulating ES were attributed relatively higher importance by the people of riverine and peri-urban wetlands in comparison to other ES; (iii) as per RAWES approach, the ESI value for riverine wetland was higher (0.58) than the peri-urban wetland (0.44) indicating the higher importance and dependence on WES; and (iv) population growth, expansion of settlement, climate change, and agricultural expansion were attributed as significant drivers of WE change (particularly for urban wetland). This study suggests the much-needed policy interventions and future pathways of research for developing effective measures to ensure livelihood sustainability of the dependent communities and to sustain (active) the ecosystem health of riverine and peri-urban wetlands.