I will be visiting US in few days. And my nephew wants me to get a GTX 970 for him from there (these are overpriced in my country).
Is it possible to bring it from US when I come back to Bangladesh? Will it be blocked by the customs?
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Unless you are trying to enter the country with something prohibited or illegal, customs will not "block" it. They will, however, charge you import duties on anything you are importing--gifts included. Most (all?) countries provide an exception up to a certain value and for certain items, meaning you may not have to pay duties on gifts if they are cheap enough.
According to this PDF from Bangladesh customs (t/h @GCCampbell), you will be charged a 10% import duty for your graphics card. So be sure to carry the receipt with you to prove how much you paid. Otherwise the customs officer will be forced to estimate the value, and his estimate may not be favorable to you!
If possible, drop the packaging, and carry it in the the cabin-luggage/side-bag. You are out-of-trouble.
In very rare case, even if you questioned, say it is for personal usage. You are good to go.