The accident took place when Krishna Kumar Meena and Ajay Kumar were going to Metro Police Station, their place of posting, police said.
The tanker, which was moving on the wrong side of the road, hit a tractor before colliding with the motorcycle, they said, adding while Meena died, Kumar was admitted to a hospital in an injured state.
The tanker driver was arrested while his vehicle and the tractor have been seized, police said.