Let's assume you've got a nice circular saw blade with teeth. Here's what will, and yes, I mean will, happen. You'll be holding the drill at an uncomfortable angle to try and apply pressure in the direction of the cut. The teeth will bite into the metal and it will yank the drill up and out of your hand. Thankfully, the drill trigger is something of a deadman switch so it will stop and you'll be frustrated.

Possibility two, you have a cutoff wheel, which is an abrasive disc meant for this purpose. You're still stuck holding the drill in an awkward way, the wheel can still bite, and you're basically no closer to your goal.

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Question1: So are any small circular blades(Ferrous metal cutting) and mandrel available, which can be fitted to an electric drill?

Question2: Is there any kind of adapter/attachment which can change the angle of the drill? 0-90 degrees? Basically converting it to a rotary cutter.

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Requirement: Cutting of iron and steel rods; TMT rebars; solid/hollow; max diameter 2 cm. Steps taken: I am using special circular saw blades(Ferrous metal cutting) to be fitted to a regular 10mm(0-3000 rpm) electric drill. Mine is Makita M0600B.

I forgot to mention this earlier, but drill chucks are designed for axial loads. You'd be subjecting it to large radial loads, which would quickly destroy the bearings, likely the motor, and certainly render the drill useless.