Executive

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.