Hi Rajesh,
On the surface, with the information you have provided, it looks like you have a competitive profile. We have had a lot of clients with profiles similar to yours ( 4-5 years of work-ex, good undergrad pedigree, good GMAT score) make it to B-schools this application season.
If I were to examine your profile in a little detail -
1. Academic potential - While the 6.8 might not look too impressive, you have a GMAT score to mitigate the effect ( though it is a no-brainer that a 750+ would compensate much better

) Overall, you'd fall in the very good, but not great, category on academic potential, with your current scores.
2. Leadership potential - What strikes me is that while your leadership record in college is quite substantial, it seems to have tapered down in the years after. CSR and volunteering experience are pretty much par for the course for most Indian applicants, so it doesn't have the stand-out appeal ( unless you have held a leadership role in your volunteering experience).
3. Work-ex - Looks good. You come from a rather niche sector ( relatively speaking), and since you mention that you were consistently rated very well, I assume you have very good stories to detail in your essays.
Overall, since your profile does look impressive..it leaves me with the question - Did you get your application strategy right? Did you apply to a mix of safe, reach and stretch schools ( or did you make a conscious choice to apply only to the best)? Were the post-MBA goals you stated in alignment with your experience and what the B-school can offer?
If you'd like some help with analyzing your dings
AND building your profile/plugging in the gaps before the next season, please drop me a personal message at
[email protected]. I'd be happy to discuss your way ahead with you.