Mass Communication & Media

Out of the given two options, absolutely go for Maharaja Agrasen Institute of Technology, Delhi. This is the best college affiliated from the best University (Guru Gobind Singh Indraprastha University Delhi). This is the best college for Engineering and Fine Arts. Its students are well placed after the course. In the comparison of Arwachin World Business School, which is located at a pathetic location with bad infrastructure, my suggestion will go for Maharaja Agrasen College. The college is located at the best location of Delhi. Its infrastructure is the best. Entire campus is equipped with Wi-Fi to facilitate the students with the course material. There is one more thing, which I would mention here, it's placement. Here, the training and placement is very active and have the collaboration with many companies to ensure the best Placement.

M.Sc in Advertising Management means, it is a Post-Graduation and that too in one of the most complex areas of Mass Media and marketing in the present age. This is also stated that Advertising as a specialization remains one of the strong areas of learning.
I shall not advise equally wide courses as parallel to Post Graduation in Advertising. I shall still share that there are MOOCs and some distance learning courses to enhance the Advertising Management and Public Relation Career.
Parallel Courses must be done with care and proper selection.
Along with the Master Degree, some MOOCs- Massive Open Online Courses -
1 A Certificate in a popular Language/Foreign Language that shall be used in your works and place
2 Content Writing and Proof Reading
3. Web Development and Digital Marketing
4. Music and Sound Mixing Basics/Audio Production
5. Web-based Writing, Social Media etc.

You can opt for any stream you are interested in. Most advertising agencies recruit candidates with a formal management or advertising/mass communication qualification. Preference is given for MBA's for posts in the market research, client servicing and media planning departments.
In the creative department, on the other hand, a general BA with a command of the language of communication plus knowledge of designing packages like Photoshop, coral draw or fine arts is the requirement.
You may refer to the link below for top colleges which offer advertising course:
https://www.shiksha.com/mass-communication-media/articles/top-5-colleges-offering-advertising-courses-in-india-blogId-11049

Yes, one should go for a JRF in journalism and mass communication, only if the person wants to study further, like Ph.D in the subject. Normally to appear for the JRF, one needs apply for NET examination, and there are three sets order papers. Paper 1 has all the general knowledge, competitive questions and paper 2 and 3 has subject related questions. All the questions will be MCQ. so to prepare for the exam one can go through the books which are generally available for NET examination or you also can join any tuition Centre, where they will make you prepare to give the exam just like JEEE, IITEEE, you'll be asked to give the mock tests there, that might also help you to sit for the NET examination.

To begin with, Delhi is not the only center for Indian Institute of Mass Communication. It has its branches in Dhenkanal, Maharashtra, Kashmir, etc. For PG Diploma in Journalism, one needs to have all the current affairs on their tips along with a stronghold on English/Hindi - depending on the fact that in which language you chose to pursue Journalism in.
GK/Current Affairs:
These include not only MCQs but also in-detail answers for which the candidate needs to have in-depth information about that particular current affair. The long answers generally ask the students to give their take on a certain current affair/GK-related question. One should have quotes/examples at hand to make their answers stand out from others. For this, one needs to have a thorough newspaper reading habit. Current affairs of six-eight months before the scheduled date of exam are included.
English:
One should prepare for homophones (similar sounding words with different meanings), finding errors in sentences, word-meanings and make sentences, and unseen passage. It isn't as simple as it sounds and needs preparation.
Students can prepare on their own or take coaching if necessary.

TIP: Bachelor of Mass Media and BA in journalism are same courses minus the fact that some universities/colleges do not teach electronic media in BA (Journalism). Please check the details of the course before you apply for it in a certain college/university.
Both these courses require practical hands-on experience along with theoretical classes. For instance, theoretical knowledge about how to do reporting and specific tips for it can be mugged up from textbooks and written in the answer sheets for an exam but the skills come handy only when practical experience is gained on the field. Same goes for camera handling and video editing - which one cannot learn unless they have in-depth knowledge of the equipment they have to use. Hence, a distance learning in this course will not help the candidate who means to pursue a career in mass media.
This being said, if the candidate wants to do a degree only to get an 'undergraduate' tag in their CV and not take up the course as a platform to pursue their career then distance learning is your thing.

There is an answer to a related question about the courses in question: https://ask.shiksha.com/what-are-the-career-prospects-in-india-and-abroad-for-ma-in-film-television-and-new-media-production-qna-4393242
The above question has attracted three expert replies and takes us to a better understanding of what job are available after it and how can one get a job.
The aspect here is not about sharing that there are jobs in the above profile and skill sets. But the question still remains where the things are taught in real serious and responsible manner.
If the graduation has been a learning activity and there is a job coming your way through graduation, then doing a PG in distance is okay but the candidate has to work very hard; really hard on the personal+professional front.
https://ask.shiksha.com/is-it-worth-to-pursue-a-ba-in-video-editing-and-videography-from-distance-learning-in-india-and-why-qna-4392978
https://ask.shiksha.com/is-it-worth-to-pursue-a-certificate-in-audio-video-editing-from-distance-learning-in-india-and-why-qna-4392980
https://ask.shiksha.com/is-it-worth-to-pursue-a-certificate-course-in-cinematography-from-distance-learning-in-india-and-why-qna-4392983

It is not worth doing any course which needs professional competence which is developed by personal contact with the institution and in regular classes.
There are many aspects of media-related courses and it should be clear to us that distance learning cannot develop the level of skills and competence that regular courses can do.
It is possible that one does distance learning studies when a foundational skill-set is already earned.
Please refer to the following replies as the same type of response is needed here as well (read your query subject in place of performing arts or editing):
1. Is it worth to pursue MA in performing arts (theater and television) from distance learning in India and why? Performing arts (theatre and television) bring to mind the stage and performance as part of the daily learning in the course. However, for all valid reasons, we can think of the feasibility of such a degree through distance mode as well. Distance mode has been established all over the world to keep the learning active and bring education to them who otherwise were away from that learning.
This is to add to the above details that where there is no connection between the provider of the Master's degree and the students, the degree is a waste. IGNOU offers assignments and personal contact programme empowered courses and that may be the single reason to think of doing such a course via distance mode.
2. Is it worth to pursue a certificate in FCP and editing from distance learning in India and why? Distance learning was not devised as an alternative to classroom learning or practical learning with the teachers.The same applies to the question as well. FCP is something which is a special learning and through the distance mode, I do not think that it is possible to comprehend and learn the best of FCP like tool through distance. Besides, in India, we do not have that strong and fault-free delivery system of distance learning programmes.