Colleges in Mumbai

Yes, it is true. The cut-off is mostly above 90 percentile.

With commerce stream you can't, but with 10th marks you can surely, however, let me also tell you being a commerce student, in order to get into IT, you need to be good in Math. If you are, then surely proceed, Or you can do BBA and MBA, after your results arrive.
Wish you luck. All the best for future endeavors.

The average tuition fee charged for the course in India ranges between INR 2,000 and 5 lakhs for a span of 3 years.
As an academic discipline, mass communication covers the study of constituents of mass media such as newspapers, magazines, cinema films, radio, television, the mechanism of conveying information to a mass-audience and an academic investigation of the different methods of mass correspondence by which people and elements exchange data on mass scales.

To consider your application for ME, what will be considered is your class12th certificate. The policy of admission may vary from one university to the other.