Hello,
Yes, the Entrance exam is important to get into good MBA colleges. CAT, MAT, XAT, CMAT, CET, IIFT, SNAP, IBSAT are entrance exams for MBA.
If you are willing to have MBA from IIMs then specialization doesn't exist they shape you in every aspect of the corporate world.
The best colleges in India are:
1.IIMs(all the IIMs are best)
2.JBIMS, Mumbai.
3.XLRI, Jamshedpur.
4.ISB, Hyderabad
5.FMS, New Delhi
6.NMIMS, Mumbai.
7.IMT, Ghaziabad.
8.IMI, Delhi.
9.LBSIM , New Delhi.
10.SIBM, Bangalore.
But if you do MBA from another college then specialization in finance, marketing are the demanding as well as highest paying jobs.
There are top business schools offering distance courses like Durham University, UK, IE Business school, Spain, Warwick Business school, UK, EMAS Business School, Russia, London School of International Business, UK. These are the top European schools that offer online MBAs.
Hope it will help, All the best.!!

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