Hi Asim,

Offered by means that the institution is directly providing that course whereas approved by means that the body has approved other who is giving that course.

To be clear, here is an example, if your mother cooks the food then it's offered by her, whereas when you cook the food and she is there to instruct and taste the food once cooked, it would be said to be approved by your mother. Same is the case with colleges.

Hope it was useful to you and your query was resolved.

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All the best :)