ICAI

Both the courses MBA finance and ICWA (Cost Accountancy) are good in their own way.
MBA in Finance is the course which will empower your knowledge in area of Finance plus in Business Management.
If MBA in Finance (Regular) is done from Reputed Institute than it can place you in very good company or organisation as all the reputed MBA institutions provide campus placement opportunity. But doing MBA from any institute will not enhance your career in any way.
Doing MBA from Reputed B- School is important. For that, you need to sit and score enough in one among many of the reputed Entrance Examination Conduct in India.
ICWAI is also very good course to get the thorough knowledge in the Cost Controlling and Management.
you will be eligible to apply in IInd level of ICWAI if you have done your graduation from recognised university.
ICWAI candidate can also expect very good salary and position in any company.
ICWAI course need serious and regular study than only the student can clear the all the 3 level of ICWAI.
ICWAI is regulate by one institution that is Institute of Cost and Management Accountant of India and it will surly have center in PUNJAB.Choice is yours otherwise both the course are very good course in Finance.

List of Courses offered by ICAI other than CA:
Chartered Accountancy Course
Certificate Courses for Members
Certificate Course on ADR (Arbitration, Mediation & Conciliation)
Certificate Course on Anti Money laundering Laws (Anti- Money Laundering Specialist)
Certificate Course on Cooperatives
Certificate Course on Not-for-Profit Organizations (NPOs)
Certificate Course on Wealth Management and Financial Planning
Certificate Course on Indirect Taxes
Certificate Course on Enterprise Risk Management
Certificate Course on Concurrent Audit of Banks
Certificate Course on Internal Audit
Certificate Course on Master in Business Finance
Certificate Course on International Taxation
Certificate Course on Forensic Accounting and Fraud Prevention
Certificate Course on International Financial Reporting Standards
Certificate Course on Forex and Treasury Management
Certificate Course on Derivatives
Certificate Course on Valuation
Post Qualification Courses
Information Systems Audit (ISA)
Diploma in Insurance and Risk Management (DIRM)
Management Accountancy Course (MAC)/ Corporate Management Course (CMC)/ Tax Management Course (TMC)
International Trade Laws & World Trade Organisation (ITL & WTO)

ICAI is the only recognised statutory professional organisation and licensing body in India that specialises exclusively in Cost and Management Accountancy.
It provides training programmes in areas of cost and account management and contributes to the economic and industrial development of the nation.
Companies offer the positions of a Managing Director, Finance Director, Financial Controller, Chief Accountant, Cost Controller, Marketing Manager and Chief Internal Auditor.
The salary package of cost accountants can vary from 4 LPA to 6 LPA. Cost consultancy and teaching are good work options.
For details, please refer to the link:
https://www.shiksha.com/career-in-icwai-article-4663-1