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Hi Murali,
If you get admission into an IIM, getting a loan is very easy process. All the banks like SBI and CBI provides education loan at a decent rate. In fact you can go to the IIMs after admission and you'll find a lot of bank personals sitting there and ready to give you a loan in just 5 mins. There are no collaterals needed.
Remember that when you get into an IIM, you will most probably get a good job and then paying back 18 lakhs or more (in a span of 5-8 years) wouldn't be a risk for a bank and they are always sure that they'll get their money back. Hence, they are always more than happy to offer you a loan for such prestigious colleges.

Hello,
You may pursue your ME or MEng in the same field or any specialized field of your interest. What you should study can be known after you have an understanding of whether you enjoy solving technical challenges or like being creative and innovative. Aerospace engineering, Maintenance engineering, Manufacturing systems engineer, Materials engineering, Mechanical engineering, Automotive engineering, Automotive Design, Production Management, Quality Management, Airport Management and MBA are some of the options available to you. You have to know your career goals and decide accordingly. Research on the various job opportunities and career roles in these areas and check which role matches your plans.

Both are different field. BBA in aviation is more a management subject it has hardly to do anything technicality it may help you to understand business of aviation sector, how different department works and many subjects will be common like other business management subject. However B.Sc aviation is more technical subject and may be offered alongwith CPL I.e. commercial pilot license or AME I.e. Aircraft Maintenance Engineer course. Don't look at salary. Check what is your strength. Salary ia paid either when there is demand for skill and nature of work. An IT engineer may get more salary than a mechanical engineer but a mechanical engineer may have less hectic schedule better personal and professional life balance whereas an IT engineer may have to work 12 to 15 hours per day. There are lot of permutations and combinations.