More than four decades of Journalism practice in Bangladesh has documented enormous number of investigative reports and last three decades have seen several competitions and prizes which encouraged investigative reporting in the country. Research question of how investigative journalism is contributing to the democratic process along with other aspects of development has been explored. The social responsibility by doing investigative reporting has also been investigated. Extensive literature survey has been conducted to gauge and analyze critically the historical as well as contemporary situation of investigative journalism in the country. The study conducted an opinion survey among the journalists to understand their present perception on investigative journalism as well as the practice in the profession exposing corruption and other anomalies. Review of recent studies and research so far conducted on investigative journalism has shown a potential contribution to strengthen democratic process and social responsibility aspect of the press. How investigative reporting may contribute to combat social injustice and establish rule of law in the country has been studied. Exposing corruption in local and national levels, irregularities and unlawful activities and corruption in service providing sectors, both government and nongovernment organizations–have been found analyzing the contents of investigative reports published in different print medium. Some of the private television channels in Bangladesh, are taking challenging stories in special programmes on exposing corruption of service sectors of both government and nongovernment set-ups.