MBA (Master of Business Administration) is a degree awarded by universities (e.g., University of Calcutta, MAKAUT) and is UGC-recognized. PGDM (Post Graduate Diploma in Management) is offered by autonomous institutes like IIM Calcutta, IMI Kolkata, and IEM, and is approved by AICTE. While both are considered equivalent for employment and higher studies (including PhD in India), only MBA is a formal 'degree.' PGDM curricula are often more industry-aligned and flexible. IIMs now award MBA degrees under the IIM Act 2017, but older batches received PGDM diplomas.