The aim of the study was to analyze changes in social capital among Bangladeshi peasants over the past decade, with a specific focus on their social relations and reciprocal arrangements. A mixed-methods approach was employed to gather comprehensive data for this study. The findings reveal that bridging social relationships between peasants and local elites has not shown any promising trend. Economic inequality and discrimination in accessing education, healthcare, and job opportunities are significant factors that contribute to the increasing distance between different groups. The reciprocal relationships among peasants have become more distant, particularly with the local elites. Economic inequality, politically biased hierarchical structures, and discrimination in accessing education, healthcare, and job opportunities all contribute to the increasing distance between different groups. Overall, peasant communities in Bangladesh have experienced a decline in social capital, which is crucial for sustaining agrarian relations and agricultural production systems.