The evolution of two linearly independent polarized modes due to transverse propagation of electrostatic waves in a two-component streaming magnetic plasma is analytically studied. The modified frequency spectra reveal that the refractive index and amplification factor markedly increase with the rise in thermal energy, especially in strong magnetic-field lines (B0∼103 kG). However, with the increase in streaming velocity, the refractive index sharply diminishes. In weak magnetic-field lines (B0∼10−2 kG), the refractive index decays with the increase in thermal energy, whereas the amplification shows an increasing trend.