The Open University

From my point of view, open university degrees are also valid but regular degree has more value then the open degree and if you go somewhere and have a regular degree then you will be selected first. My advice is that you should opt for a regular degree course.

No, you need to complete your graduation via distance mode only.

Regular MBA gives you a Master degree in two years and you have to start from the scratch in your career. However, the distance education programme gives you an experience along with MBA. I would suggest you to join with NMIMS University. The good about NMIMS is:
1. You have online classes on weekends, and the recording of the online classes will be available for your future reference.
2. They also provide you study material and notes (PPT).
3. Your assignment for 30 marks will be submitted online.
4. Flexible examination schedules.
5. They have EMI facility and you can pay your fees in installments.
All the best.