Given below is my profile
GMAT:750
Experience:4 years in a Middle level sales role(Sr Area Manager in a Leading FMCG) and 4 years in entry level sales role
Under graduation:BTech In Chem engg with 7.6 CGPA
My requirement is Scholarship and full tution fee waiver. I am open to Average Business schools. But the point is to find a school that provides me with complete tution fee waiver along with a RA/GA or a scholarship to cover my living expenses. Any suggestions in this direction is really appreciated

I hate to break it to you but there's very little chance that any school, even an average business school, will give you a full tuition waiver. Unless of course you have something exceptional about your profile, which you haven't mentioned.

MBA programs cost money, and there are very few ways around that. There are some values, though: in the US, schools like Texas - Mays, BYU, and University at Buffalo offer reasonably-priced MBA programs.

If your goals don't depend on working in a country where you speak the language, European programs like CEU's or UC3M's might work for you.

Otherwise, UK business schools usually offer one-year MBA programs (instead of the two-year variety), which saves you a good chunk of tuition costs. In this sense, schools like Nottingham, Loughborough, and Brunel are worth looking into.

I could imagine that there could be a US school that needs to boost its average GMAT that would want this candidate badly. Even a school in the middle of the FT 100 would offer a partial scholarship (somewhere at the level of USC or lower), and a school in the bottom 30 might offer a full scholarship but tuition and living costs.... that is a big ask unless you have high-quality work experience. Schools schools in the bottom 15 are worth a try: like Mendoza, but I think even a school like Olin would offer most of the fees but probably not living costs.

If you have given the GMAC permission to pass your details to schools, then they might get in touch with you directly. But.... this will not be great schools. See The sad facts about scholarships http://www.find-mba.com/board/37055

Just a comment on the idea of being a TA. It's a good idea for a semester in your second year, but any school that thinks you can be a TA or GA all through the MBA just cannot be running a very extensive MBA program.