The men have been arrested and charged with assault, police said.
The incident happened on November 28 and was recorded by a passenger on a mobile phone.
Violence against Indian women has been in the spotlight since the gang rape and murder of a student on a bus in the capital, Delhi, in December 2012.
The attack caused outrage and prompted India to introduce stringent anti-rape laws.
The latest incident happened in Rohtak district when the two students, aged 22 and 19, were on their way home.
One of the women told the Press Trust of India news agency that the three young men “threatened us and abused us”.
“One of them touched my sister inappropriately… After a heated exchange, one of the boys called his friends asking him to beat us up. One of them beat my sister while two others caught hold of me,” she said.
The women said they decided to take on the attackers when other passengers did not come to their help.
The sisters said the men pushed them out of the bus when it came to a halt after some distance and attacked them again.
They said they retaliated by throwing a brick at the men who then fled.
Police say they received a call from the women on November 28, and the three men were arrested on November 29.
Senior police official S Anand told The Hindu newspaper that they were contemplating action against the bus driver and his helper.
“The driver was supposed to take the bus to the nearest police station. But he did not do so. The conductor also did not intervene. We are considering legal action against them,” he said.
Correspondents say public abuse of women – called “Eve teasing” in India – is rampant in parts of the country.
“Eve teasing” makes life miserable and even dangerous for women when they go out in public and use public transport.
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