Executive

The global survey report by the Graduate Management Admission Council (GMAC) indicates full-time one-year MBA, executive MBA, and online MBA programs appear to be experiencing stronger application growth whereas full-time two-year, part-time, and flexible MBA programs worldwide are indicating declines this year.
Executive MBA is suitable for not only working professionals but also for those who want to renew their career prospect after a break and even for fresh graduate who wish to earn a few years experience before going back to pursue a PG degree. And since the duration of these programmes are considerably shorter than full-time MBA courses, managing classes and regular lectures isnt difficult.
https://www.shiksha.com/business-management-studies/articles/executive-mba-programmes-offered-by-top-mba-institutes-in-india-blogId-13475

Well, executive MBA may increase your knowledge and add management perspective in your thinking but unless your organisation has a policy to give favorable increment and position for those with MBA, it is not going to add value. Yes, if you change your job and the new organisation need an MBA graduate then your executive MBA comes as a rescue. As far as full time MBA is concerned, you need to take care of the following:
If you do MBA from top 10 institutes in India, average package is 17 LPA, if you do it from top 11 to 20, you may expect a package around 13 LPA, if you do it from 21 to 30, the package will be around 10 LPA, if you do it from 31 to 40, the package will be around 7 LPA and if you do it from 41 to 50, then the package would be around around 4 LPA. I don't think considering as you are already working and earning around 3 LPA (I am assuming). There is no point of doing MBA from above 50 ranked institutes.