MBA VS PGDM: What is the difference between these two?

PGDM: 

PGDM expands to Post Graduate Diploma in Management, the confusion starts when you see the term Diploma. Many students are of the view that it is a Diploma course and not a Degree; you are right to an extent that it is a Diploma. The main reason why postgraduate courses are named as PGDM is because when an Institute is an autonomous body (meaning it is not affiliated to any University) and conducts management courses then such Institutes cannot offer MBA degree. Even IIMs, XLRI's doesn't offer MBA degrees they only give PGP Diploma or PGDM since they are autonomous and independent bodies. On similar lines AICTE (All India Council for Technical Education) is allowing approved colleges to run a PGDM course. Some Business Schools offering this AICTE PGDM course need not be autonomous, the PGDM course will be autonomous given by the Institute & directly approved by AICTE, Ministry of HRD, Govt of India.

Just like how UGC - University Grants Commission controls the Universities in India, AICTE - All India Council for Technical Education has control on both technical and management courses and especially colleges not under Universities. Even colleges offering UGC recognized MBA Programmes in most cases should have AICTE approval.

Advantages of Autonomy

When an Institute secures autonomy they design their own curriculum to be taught instead of following outdated University syllabus. I have mentioned outdated syllabus because the syllabus change at University level happens once in either 3 or 5 years. Technically syllabus change affects university affiliating colleges, the books needs to be revised and the faculty needs to upgrade themselves.

Where as in PGDM, since the colleges have autonomy the curriculum can be updated regularly depending on the need in the Industry. Hence one can say that PGDM courses are more Industry relevant, up to date as compared to MBA courses. However University MBA Programmes too are of value, it totally depends on the University one wish to do MBA. For instance FMS Delhi offers MBA - Delhi University, Symbiosis offers MBA - Symbiosis University, Narsee Monjee offers MBA.

Word of caution

While opting for PGDM courses, students must exercise caution and check the accreditation status of the college. Colleges offering PGDM courses needs to be accredited by AICTE. In case of MBA, the colleges are affiliated to an University and Universities are controlled by University Grants Commission (UGC) and the colleges may also get accredited by AICTE.

Is PGDM equal to MBA?

Not necessarily that a PGDM is equal to MBA because if PGDM is to be an equivalent to MBA then the college offering the PGDM course must have accreditation from AIU (The Association of Indian Universities).

AIMA PGDM VS AICTE PGDM

AIMA PGDM or PGPM course is a certificate programme, AIMA stands for All India Management Association an apex body which conducts MAT examination. AIMA also offers PGDM which is clearly mentioned as a course approved by AICTE and Distance Education Council. There is a lot of difference between AIMA PGDM & AICTE PGDM.

MBA

A two year management degree expands to Master of Business Administration, only Universities can grant MBA degrees. It could be a recognized foreign university or an Indian University.