Although it is just a space, it can pose issues a a later date.
Ravikumar M would mean first name Ravikumar and second name or initials M. Ravi Kumar M would mean first name Ravi, middle name Kumar and last name M.For instance, in computer entries, Job allotment, passport or visa applications, there should not be an error or different names.
I presume your name is RAVIKUMAR with last name starting with M. If this is correct then apply for a correction in the degree certificate.
You would need proof of your name spelt or printed correctly in SSLC, PAN or Aadhaar card. With attested copies of this, please draft a letter to the registrar of the university under which your degree college comes under. There would be a pre-formatted form for correction services and a small fee for the same.
Please fill the form, enclose the revelant proof of how your name should be and then send it to the univeristy by speed/registered post and keep the acknowledgements safely.
Some universities offer this service online.You can check if this is available for your university.
If the authorities insist on a formal/legal affidavit stating your proper name, then you can approach a Notary in your area, he/she will help you to get a name correction affidavit. This would be a valid proof of your correct name.