First of all, be clear that "you and you alone can add value" to your potential, your qualifications, or your personality. I have come across people who, despite having the best academic background from a reasonably reputed B-school, fail to deliver the needed outcomes at times. Your exposure to various activities within a department or organization, your maneuverability, and your sense of judgment are essential for effective performance.
However, a formal professional qualification has its own role to play in grooming one's career, in making judgments between good and bad, etc. An MBA, in your case, certainly helps if you study the subject with reasonable hard work and a quest for knowledge and perfection. In my opinion, a formal qualification alone would not serve the purpose. Where you study for an MBA is less important than how you study. Nevertheless, if you manage to secure a seat in a regular college, it is always beneficial.
Finish all your backlog papers in graduation and learn the art of knowing how to make the best use of your time and available potential.
I wish you good luck.
Regards,
Srinivaskvmk