In the field of Natural Language Processing (NLP) the process of stemming plays a significant role. Stemmer transforms an inflected word to its root form. Stemmer significantly increases the efficiency of Information Retrieval (IR) systems. It is a very basic yet fundamental text pre-processing task widely used in many NLP tasks. Several important works on stemming have been carried out by researchers in English and other major languages. In this paper, we study and review existing works on stemming in Bengali and other Indian languages. Finally, we propose a rule based approach that explores Bengali morphology and leverages WordNet to achieve better accuracy. Our algorithm produced stemming accuracy of 98.86% for Nouns and 99.75% for Verbs.