MBA/PGDM

For marketing GIM and Great Lakes are known colleges.
For finance, you can go for IFMR or K.J Somaiya.

Hello Sumit,
MBA in banking and finance is a postgraduate banking course. MBA is one the most sought after courses which can be attained by the students of any stream.
You need to be more clear in what you want to ask.
The following are the top colleges for MBA in banking and finance :
1) IIM Ahmedabad
2) IIM Calcutta
3) IIM Bangalore
4) IIM kozhikode
5) IIM indore
6) IIM Lucknow
7) Janmalal Bajaj Institute of Management
8) Xaviers Labor Research Institute, Jamshedpur
9) S. P. Jain Institute of Management and Research, Mumbai
10) FMS, Delhi

Try to apply for IFBI which is an easy way to get a job in banking sector.

IELTS would be a better choice.

If you have a sufficient loan amount sanctioned then it is absolutely fine.

Canada will be the best option if you would like to settle down, but you need to get some work experience before applying for the MBA in Canada, moreover, you need to do at least one year of Diploma program before applying for Canada as they will ask you for 12+4, however, for Australia you don't need any extra education but Australia is difficult in terms of immigration and finding a job. I won't say that it is impossible to find a job there but it is difficult compared to Canada.

The placements in MBA department are good when compared to the other MBA colleges of Mysore such as Vidyavardhaka, BHIMS, and MIT. The placements are good here for all the 3 specializations.

Dear Binit, if you really want to pursue MBA through distance learning, than it is advisable to go for IGNOU. It is a very well established brand name in the field of distance education and learning. The Study material is of international standards and industry ready. IGNOU is moreover internationally renowned University. However, the final call is yours. I hope this would suffice. All the best and God bless you.