The deceased were identified as Abrar Tajuwar Nirjhar, 18, and Ahmed Hasan, 20, both first year students of DU economics department.
Dohar police station OC Sheikh Sirajul Islam confirmed that the incident took place around 2:30pm.
He said a group of DU students came to Mainatghat to spend some leisure time. The two boys at one point went to the river to bathe, however neither knew how to swim.
They were washed away by the strong currents of Padma, he added.
A firefighting team recovered the bodies around 5:30 pm.
The OC said the bodies were later handed over to the relatives.