"The incident took place on Thursday in a forested area near Gelhapani village under Chirmiri police station limits," a police official told PTI.
The deceased were identified as - Banshdhari (60), a native of Madanpur village, and Sushant Sahu (36) of Gelhapani, he said.
The bear, hiding in a bush, first attacked Sushant, who was walking close to the village, and dragged him inside the forest. On seeing him in trouble, Banshidhar, who was grazing goats there, tried to save Sushant but he was also mauled to death by the bear, the official said.
On getting information about the incident, villagers rushed to the spot and informed police.
In the struggle to chase away the bear, two other villagers and three police personnel sustained injuries, he said.
However, the wild animal ran away from the spot when police fired in air, he said.
The injured persons were immediately rushed to a local hospital where their condition was said to be stable.
The villagers have been asked not to venture into the forest as the animal could still be roaming there, the official said adding,"We are keeping a close watch on the situation."
State Labour Minister Bhaiyalal Rajwade expressed grief over the death of the villagers and prayed for the speedy recovery of the injured.
He visited the village last evening and announced Rs 4 lakh compensation to kin of each of the deceased.
Besides, the relatives of the deceased were also given an instant relief amount of Rs 10,000 each by the minister during his visit.
Rajwade also directed the forest department and district administration officials to provide best medical assistance to the injured persons