Hello Meghna,
I am a student pursuing MBA in HR, and I would like to clear your query:
HR's Job... in almost all the sectors and industries, may it be services, IT, telecom, or manufacturing, or any type of setup. The profiles are varied from recruitment, employee relations, comp & reward management, performance development, etc.
At present, there are many consultancies coming up, which provide great opportunities for fresh HR professionals.
Now about MBA in finance... these people are generally paid more, recruited quickly, and promoted quickly (all these compared to HR prof.)... but all this comes with a hunger for number crunching, a huge amount of data analysis, quite into stocks, shares, derivatives, etc.
In the end, I would just like to say, whatever you choose, you have to live with that decision for a lifetime... so choose carefully... choose what you can do for your whole life.