MBA in general is about choosing what you want to do in life. The branch you choose must be based on which part you will be suited for. I have a major classification based on certain characteristics (This may not be perfect but it pretty much holds good so feel free to agree to disagree

Finance - Good in numbers, interest in statistics, not too social, looking to do a PhD, introverts
Marketing - Good in communication, good in networking, extroverts and people who are quick on their feet
HR Management - Women (not a sexist statement) and people who are more empathetic and good in reading people
Operations Management - For hardcore engineers (non-CS) majorly and people who are good in numbers but not interested in Finance
Id go into systems and other streams but I trust this should cover it

MBA in Finance

This is something I did and I was a non-finance guy (Engineering in Computer Science) before my MBA. Finance is pretty easy but you need to like it. Its a lot like one of those papers which is easy if you put your mind to it but if you dont like it, you are never going to get it.

I had papers on basic Accounting, management accounting, Corporate Finance, project financing, Derivatives, behavioral finance, Economics, M&A among others and it was a pretty easy run. One thing Id advice is that keep your memory sharp. You have too many formulas and too many things you need to keep in mind.

While it may seem to be a better fit for a person from a Commerce background, Id recommend it for others as well. Nobody in my batch found it too tough but among the four Ive listed, Id say it is the second most tough one. (Ill not say other spots)

Finance is not something you can study overnight. You need to truly put a lot of work and practice a lot to even thing about studying it.

MBA in Banking Management is designed to impart requisite knowledge and provide skills necessary to function effectively in the challenging environment of the Banking sector. This course is geared towards students with a keen interest in the banking field and willing to secure a competitive edge in the marketplace for better job opportunities.

Its OBJECTIVE are :

To develop students academic and management skills in the banking field
The growing economic importance of banking sector with clear understanding of the theory and practice related to banking sector.
To develop committed banking professionals capable of driving the banking sector growth and financial stability.
To develop analytical skills and familiarize students with the latest strategies, banking and financial developments from management perspective.
To build knowledge of contemporary corporate finance, global financial market, private equity, mergers and acquisition.
Encouraging innovative and creative thought process for continuous professional development.
Popular positions after Banking Management include:

Investment Banker
Credit Manager
Fund Manager
Budget Analyst
Bank Manager
Banking fund flow Manager
Corporate Banking

Overview
When considering an MBA in Information Technology, it is important for prospective students to consider program curriculum, admissions requirements, and career information.

Thanks,
Azim

MBA is core and Generic which will cover overview of all functions like Marketing, Operations and IT and HR and Finance  

MBa in Financial Markets ismore unto Fund Management and Equity analysis of all stock markets and capital markets. 

MBA in Banking and Insurance is more specific towards Bank Operations management and all compliance and Insurance integration  

MbA in IT is more inclined into solving Complex IT Projects with management and product development through technical domain skills.