IIM Bangalore - Indian Institute of Management

Depends on the program that you are applying for. While PGP is a residential program, you can look at PGP EM (Enterprise Management) i.e. a weekend program.
http://www.iimb.ernet.in/programmes/post_graduate/pgpem

Yes, you can do MBA after doing B.Sc in textile designing. You can opt for MBA in marketing and sales and MBA in retail.

Hi,
IIMs are famous because of their packages, which is fairly so because MBA is a decently huge commitment.
And, the reason there are such great placements, is because of great academics, facilities, faculty, students and environment in general.

IIM, Bangalore does not offer any specialization. However, it offers a large range of finance courses which you can take and build your resume for finance companies.

You need valid CAT score with minimum 50% marks in graduation and cutoff for CAT shall be 99 percentile to quality for GDPI rounds after which you can get admission.

IIMs offer a general management course (i.e. PGPM) and there is no distinction between fields. Although, once you get here you can choose to pick up courses in specific domains. So, bottom line is that the process is simple - CAT, WAT & PI and then final selection.

Its better to have work experience before going for MBA. As you will have a feel of working culture in corporate world. You will get to know the work of HR, finance, marketing,operations depending on your field. You will get to know how the team work plays an important role and managing the human resource is most important factor. Generally, B-Schools prefers work-experience people over freshers. If you score a good percentile in CAT/CMAT/XAT and have a good academic profile even than B-Schools will admit you easily.

These companies do visit colleges for placements. But with a poor score, you must have something extraordinary to show that you are an exceptional person. It's very difficult to be selected into these companies with a poor academic record.