Is it possible to create the RDLC reports using the business object data source in Report Designer?

No. The Bold Reports^® Report Designer does not support creating RDLC reports with a business object data source. In the Bold Reports^® Report Designer, you can create RDLC reports and assign data with a JSON array collection only. To create an RDLC report with a business object data source, refer to Create an RDLC report.