Hi Roshni!

IGNOU is a government accredited distance education university and is a trusted organization. The degree from IGNOU are valid in all over India as well as foreign countries. However,  the scope after graduation from IGNOU is limited as compared to graduation in regular mode. Also, you might be asked for a consent from American Psychological Association or any other recognized psychological organization to ensure your degree.

And Delhi university also offers MA in psycholoy- 2years in regular mode. Check it here:

https://www.du.ac.in/du/uploads/pg-courses/M.A__psy_12.5.2010_.pdf

Thankyou!