Hello Amar,
Yes, you can use I2C/ SPI interface between host MCU and BMI160, and I2C interface between BMI160 and BMM150 ( this is BMX160 internal)
You can also check BMX160 block diagram in datasheet page 14 how BMX160 works.
Because BMX160 concept is kind of combination with BMI160 and BMM150, we short commented it in BMX160 datasheet page 26.
And, https://github.com/BoschSensortec/BMI160_driver/wiki/How-to-use-an-auxiliary-sensor-or-magnetometer-with-the-BMI160.
Thanks,
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