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Then, what about institutions which are not affiliated to any university but want to offer management education? The solution comes through PGDM, which expands to Post Graduate Diploma in Management. Any autonomous institution can offer PGDM course. Here, diploma doesn’t mean that PGDM is less to MBA. It’s just playing with words and alternative to the word degree to avoid confrontation with the law of the land.
In India there are scores of autonomous institutions some of which are prestigious like IIMs, ISB, XLRI, SSIM in Hyderabad and the list goes on. All these institutions offer PGDM course. And, what about accreditation authorities like the AICTE? Well, its role is limited to advisory part as per the ruling of the Hon’ble Supreme Court of India. That’s why ISB courses have no accreditation from the AICTE.