Shakurabad police station SHO Ravindra Yadav said the deceased boy has been identified as Rocky (14).
The incident occurred when Rocky, who was on his way to his Patiyawan village after attending coaching class, jumped into the river near Jai Bigaha village to save the two children who were drowning in the river.
The villagers also jumped into the river who managed to save the two children, but could not save Rocky, the SHO said adding Rocky's body has been fished out from the river and has been sent for post mortem in Jehanabad Sadar hospital.
The incident occurred when the two girls had gone to perform rituals of 'Karma festival', slipped and were swept away by the heavy current in the river.
Makhdumpur Block Development Officer Ramesh Kumar Dinkar said local divers have been pressed into service to find the bodies of the missing girls.