The key difference lies in accreditation and awarding body. An MBA (Master of Business Administration) is a degree awarded by universities (e.g., Mumbai University, Savitribai Phule Pune University) and is recognized by UGC. A PGDM (Post Graduate Diploma in Management) is a diploma offered by autonomous institutes like SPJIMR, JBIMS (though JBIMS awards MBA under MU), and NMIMS (deemed-to-be university status)—these are approved by AICTE but not UGC degrees. However, PGDM from NBA-accredited or AIU-recognized institutes (e.g., SPJIMR, IIMs) is considered equivalent to an MBA for higher studies and government jobs. In Maharashtra, both programs follow similar curricula, but PGDM programs are often more industry-oriented and flexible in syllabus updates.