If you could somehow convince a biller (and thus a bank?) to either wave their transaction fees or give you an "Indian discount" of say 0.5 percent or lower, then I would say yes it's possible to make bank (pardon the pun) with Indian traffic.
But you would need to offer 'Indian discounts" and special India-based pricing in order to succeed. This is what Disney did with Disney+, their streaming service (which had the added benefit of inflating their Membership numbers). Disney offered their service to Indians for pennies on the dollar. But after they lost English Cricket (of all things) their Indian Members fled. So it's a tricky balance and, ultimately, not worth it.
