Post graduation diploma in management or PDGM is a diploma IIMs and other bschools in the country offer as they cannot offer degrees. But it holds the same value as a MBA in the industry. FMS is a college that awards MBA degrees. However with the IIM bill already passed in the Lok Sabha very soon IIMs will be giving out degrees.

PGDM is usually equivalent to full time MBA and most non-government institutions including IIMs give PGDM only