Is there any such option that one can do MBA / PGDM with any one subject (like finance) from 1st year till 2nd year?

Yes, in MBA/PGDM one can select Finance/H. R/MARKETING/B.A etc. According to their Interest. So, basically you have to select One major and one minor subject for the PGDM/MBA. Major has almost all preference and minor has very few.