Sreesanth underwent an MRI scan in Dhaka and the team's administrative manager Arshad Ayub said the pacer would be assessed again before the match starting on Sunday.
Sreesanth had limped off the field during the fifth and final day's play of the first Test, which India won by 113 runs.
India is already without senior batsman VVS Laxman, who has returned home after sustaining a hand injury. Laxman hurt the webbing of his left hand while fielding during the fourth day's play.
In good news for the team, regular skipper Mahendra Singh Dhoni, who sat out of the first Test due to a back spasm, is expected to return to the side for the second Test.
Spin spearhead Harbhajan Singh has also recovered from a stiff neck but he would face stiff competition from the in-form Amit Mishra to find a place in the final XI.
Meanwhile, the Indian team cancelled its training session here. The team also took some time off to attend a dinner hosted by the Indian High Commission in Dhaka.