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Is it possible to go into a teaching career after an MBA degree?

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Yes very much. If you do a Ph.D then you might get very good colleges or else you will get BBB or below ranked colleges.
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I am doing BA program currently, after that can I do MBA (Information Technology)?
Yes, you can. The pre requisite for joining MBA is to have completed one's graduation. The stream in which you have graduated is unimportant. Please go ahead and start making preparations to pursue your dream career.
Dipti
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Do IGNOU graduates even had a chance to get calls from IIMABCK even they get decent percentile in CAT?
YES, but only if u really get a decent percentile in CAT according of authority.
Divya
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