The core difference lies in the awarding body. The MBA degree is awarded by the ICFAI Foundation for Higher Education (Deemed-to-be-University) for the Hyderabad and Bengaluru campuses, and by ICFAI Universities in Dehradun and Jaipur. The PGPM (Post Graduate Program in Management) is a diploma-style certificate program offered by the off-campus centers in Mumbai, Pune, Gurgaon, Kolkata, and Ahmedabad. Both programs follow the same case-study-based curriculum and have identical placement processes.