All India Management Association

No. AIMA is not a university, it is an institute. An institute is allowed to offer diplomas and not a degree however, such degrees need to be approved by AICTE and also need to be given equivalent status by AIU to a PG degree in order to be eligible for applying in a government job specially teaching and research. AIMA PGDM is not an equivalent to MBA. It is not a full time program. So, you don't get placement facilities as far as MNC is concerned, if they are hiring through campus placement, you have no chance for lateral hiring, it depends if MNCs are asking full-time PGPM, you are not allowed, if they are asking a degree, you have no chance . It does not have equivalence status by AIU.
Here are the excerpts:
Post Graduate Diploma in Management is approved by AICTE since 1994. It is at par with MBA in terms of Course Design & Content. However, technically PGDM & MBA are two different programs, MBA is offered by a University and PGDM is offered by Non-University Institutes. It depends on Individual Universities to consider the PGDM equivalence to MBA. Like Aligarh Muslim University considers the AIMA-PGDM equivalent to MBA.