As an Indian applicant from the technology industry, your profile is going to come across as fairly common with a sub-700 GMAT score and two years of IT experience. Switching to finance, while not uncommon, is going to be a tougher sell with a quant score under 50--the b-schools will see it as an employment risk particularly if there are also any visa issues (perhaps there are not visa issues in your case, but make sure the schools know this). Having said that, since you want Spring uptake, that would point you in many cases to one-year MBA programs since most two year programs start in August and would ostensibly be off your target list for that reason. One year programs are more forgiving on core admission stats since they don't have to report them for the rankings. Investigate some one year MBA programs which you feel you might be a good fit and make sure they have a Spring cohort. I think you should be able to get into one of these one year MBA programs with a 680, t2.5 years of WE and a clear plan for why you want the MBA and why now.
Thanks for the reply.
If I am willing to wait until next fall(2014) and change my plans about switching to Finance, then will there be any improvement in my chances ?
If yes, plz suggest appropriate B-schools.