Let us discuss M.Phil: MPhil means "Master of Philosophy". The minimum qualification for doing M.Phil. is at least 55% marks in the aggregate in your Masters like M.Com, MBA, MIB and another equivalent to the MBA degree from any recognized Universities. The course duration will be 2 years & it offers 6 specializations Accounting, Finance, International Business, Marketing, Organization Behavior, and development and Faculty of Commerce & Business. Generally, the selection procedure will be through Entrance test + written test & a personal interview and Sometimes they are selected directly (NET/NET-JRF) he must possess 50% marks in UG & PG. It is a less advanced course than P.hD. The MPhil degree generally referred to as a pre-requisite to doing a Ph.D. degree.
Ph.D. means "Doctor of Philosophy". it is an advanced course than M.Phil & it is a 5-year course & the research work should be original & it would be checked by a panel of experts. The thesis should contain detailed research & more practical calculations & examples.