Banking, Finance & Insurance

No, they are two different courses-
Master of Financial Management is a postgraduate Financial Management course. Master of Financial Management covers all the related areas of finance and accounting with emphasis on managerial applications. Subjects included in this course are finance related. Course is beneficial for the people who are currently employed and want to train themselves on the theoretical and practical aspects of management in order to reach the higher rungs at the workplace through a sound base in Financial Management and Techniques. Master of Financial Management employment areas are -
Government Agencies
Education & Research Institutes
Financial Institutions
Firms
Job roles offered after this course are -
Credit & Cash Manager
Finance Controller
Risk Manager
Chief Financial Officer
Masters of Business Administration (MBA) in Finance is related to business aspect of finance. Generally subjects are from business perspective like Corporate Finance, Derivatives, International finance, Corporate Credit Analysis. After MBA in finance, students are eligible for working in financial organisation as well as finance supporting organisation like IT companies.

Dear Sumeet,
As per my limited but relevant experience. The Distance learning programs do not actually add any value to your credentials to secure a job in banking industry. You would have to go for a course that has graduation has an eligibility criteria. I think you have 2 options :
Option #1 : Research the kinds of job that are available in the banking industry. See the qualities required to do these jobs and chose the top 3 jobs that you like the most. Search for a short term course - 3 months to 1 year that trains you and provides you placement opportunities specifically for these jobs. One such course that is popular these days is financial modelling. Options #2 : Go for a generic PG course in banking. This should be a medium term course ( 1 -2 years) as you will need to build a strong foundation. Search for colleges that are offering practical education, teachers are from the industry and the college is integrated with the banking industry. The college has to be regular. While doing the course you can pick specific jobs that you like and train yourself for it by focusing more on relevant subjects. Popular jobs that you could go for after this course will be International Trade Finance, NRI Banking, some banking and many more. Advantages of choosing #1 is less cost, less time, super specialisation. Disadvantages of #1 will be narrow focus and limited career options. Advantages of choosing #2 is entire domain specialisation, easy job availability, better long term career prospects. Disadvantages will be cost and time. If I were you I would chose a 1 year PG programme that has good placement history and integration with the industry.

Dear Friend, I was in the same dilemma 2 years back. So I would share my journey with you. A lot of my close relatives are bankers and I want to become a banker too. I had interactions with them on what is the best choice - I had 2 options B.Com + MBA or BBA + MBA. My initial research shown that its better to go for B.Com + MBA as B.Com has 8 accounting subjects while BBA has only 3. Also, you essentially learn the same things in BBA and MBA and BBA does limit your options on what all you can do after completing the course. So I was close to taking admissions in B.Com. Then one day my cousin called me ( he is working with HDFC bank as a manager) and informed me that he has found a course that is best suited if I wanted to work in banks. He told me about TKWs Institute of Banking and Finance. I found it as a better option and am in my final year now. Here what I have learned about this course:
1. They a course that has 3 Qualifications in 3 years. B.Com from Delhi University's School of Open Learning, An Advanced Diploma in Banking and Finance and an Optional CS course ( They suggest that everyone must give CS foundation at-least as it has advantages at later stages in career). I cleared CS foundation in 1st attempt.
2. They have regular classes and teachers are amazing. My college experience is better then my friends who are in DU colleges
3. I will be doing a job for some time and then want to go for MBA. TKWs gets students placed in banking industry. Some of our seniors have already joined banks and finance companies. I will work for 3-4 years in a bank and then do an executive MBA. So I suggest you can also go for TKWs Institute. If not, you should do B.Com and some other courses along with it.