710 is a good GMAT Score and 34 in Verbal is not a bad score. Your verbal score would be around 70 percentile.
A low GMAT score in one section can certainly be offset by submitting a good essay and working hard on your application and interviews. Most schools see a combination of all these things to grant an admission.
As per your GMAT Score Chicago Booth, Wharton, Kellogg, Ross Michigan and Duke are among the top US B Schools where you can apply. There are many more but the mentioned list comprises of a few good ones in the US that you should definitely target. It is highly advisable in your case to focus on your application evaluation essays. This is where you can demonstrate your leadership qualities, achievements, professional vision and other abilities. A well presented and perfectly written essay is absolutely critical to make a strong case for yourself during the final interview and more so when you have an average GMAT scores.
It is highly recommended to seek assistance from professional consultants for guidance who can more closely review your situation and provide you with a list of B Schools where you would have chances of converting your application to admission. You should also get your essays reviewed from them before sending it along with your application to better your prospects.
You can visit http://www.general-ed.com/MBA-essay-analysis
to learn more about professional essay evaluation services and http://www.general-ed.com/mba-counseling
to see how General Ed can help you with MBA counselling and Application Evaluation.
Also if you happen to be based in Bangalore you can attend a MBA workshop by Directors of Admissions, ISB along with alumnus of various global B-Schools during the dates mentioned in this links http://www.general-ed.com/workshops-and-seminars
Feel free to post any other query or concern that you might have.