Please do note that most organizations in India, including the MNCs, do not give any importance to the distance education MBA degree. Today, there are some thirty Universities offering the MBA through correspondence, and even those offered by prestigious institutes like the Symbiosis Institute of Management, Pune, are still not recognized for promotion or for any other recognition at all.
So, kindly go for the regular MBA, even if it is from a fairly ordinary college. Make sure that the college is recognized both by the UGC and by the AICTE. The University should also not be a new University, as in that case, the Corporate Sector is likely to not recognize that degree as well.
Never treat the MBA degree as an ultimate destination for your career. It should always be a journey, and not a destination.
In other words, you should gain professional knowledge and skills that go far beyond the MBA syllabus. You would do well to understand the wider context under which the events have taken place. You need to collect data, to connect the various dots.
For example, take the example of the recent fraud reported very widely, in the Punjab National Bank. Please go to the genesis of the problem, understand everything about the borrower, and how the company succeeded in doing the fraud. You should understand all this and have your own case study, even if you specialize in say, Marketing and HR.
This is mainly because, you can never be a frog in a well. You need to understand that the Corporate houses are nimble footed and very flexible, They need experts who know everything.
Apart from this, once you have decided your two specializations, you need to understand every single development related to that filed. For example, take advertising, which is one of the most important things in Marketing. You need to understand every single successful brand promotion strategy of a superb company like Asian Paints. You also need to understand what went wrong with brands that fade away after a while.
For specific examples of small, but highly successful competitors, you need to understand the different strategies adopted to withstand multi-national competition. For example, Cavinkare from Chennai, was and is, a huge success. You should understand every single detail of how it got there. You can even get information from retailers who stock the products, how the customers rate the products and so on.
Remember, you need to also understand what it takes to succeed, You will additional qualifications in SAP, Tally, Diploma in Training and Development, Advanced training in Capital Markets, specialized courses from the Indian Society of Applied Behavioral Sciences (ISABS) and so on. If you specialize in HR, you need to also have a degree in Law, and a deep understanding of labor laws and their application and also be very cunning to understand where you can add value to Management interests ( which is exactly what is expected of you by the employers).
The MBA degree is only a base, After the MBA, you need hard core experience in any area of your expertise, depending on your specialization in MBA. All the very best.