Hi,
First of all dont confuse between MBA and PG Dilploma. Both are same.
As far as MBA is concerned, any 2 years full time prog in management is an MBA prog. All top management institutes in INDIA give either PGDM or PGDBM or PGDBA degrees to its full time students. Even IIM's give Post Graduate Diploma in Management. Only Pune, ICFAI, Symboisis, Amity gives MBA degrees. Rest all gice PG Diploma.
Same is the case with distance learning. so try in Symboisis or Welingkar or ICFAI only. because these are brand names. As far as pay package is concerned develop your knowledge in your field. for distance learning knowledge is more imp than brand name.
And as far as ICFAI is concerned i have done my full time MBA from ICFAI Business School. And i dont have any bad experience.