Rajendra (50), Bageshwar (45) and Islam (35) were on their cycles when the speeding bus ran over them.
Rajendra and Bageshwar died on the spot while Islam suffered serious injuries, a police official said.
The bus driver managed to flee from the spot, he said, adding that the bus was operating under the state corporation on contractual basis.
The accident caused traffic snarl for nearly two hours as locals staged a protest and even pelted stones at police officials.
The police had to baton charge at the irate mob to disperse them, the official said. Police force from four police stations had to be deployed to control the situation, he said.
A case has been registered against the absconding driver while Islam has been admitted to a local hospital here, he said.