IGNOU is a Central University with its Regional Study Centers located all over India.And Yes,Degree from IGNOU is valid in governmental/semi-governmental and private sectors (Including Banks both Nationalized and Non-Nationalized).
What degree to accept and consider majorly depends on the people who are hiring you i.e. your employers.
To give you the real picture, the syllabus and study material is much better as it provides in-depth knowledge
If you are planning on studying further, the IGNOU degree wont be accepted by any universities abroad.