Hi Amit,
First, I should mention the obligitary comment that you should use ssh rather than rsh (OpenSSH, for example, ships with AIX, I think on the bonus or linux tools CD).
However, if you want to use rsh, configuring it on AIX is exactly the same as on every other platform.
On the host that you want to rsh
to create a .rhosts file in the user's home directory, owned by the user with permission 600. Put in it
where "host" is the host you are coming from and "user" is the user account you are coming from.
There are other options and files, but this will work, so check out the man page if you want more info.