MBA/PGDM

Punjab University has two departments which offer you MBA. For both, you have a graduate degree. First is UBS (University Business School) is the best department and top placements. Admission in UBS is totally based on CAT rank. Another is UIAMS which is not so good as UBS in both placements and infrastructure. Admission in UIAMS is based on its own conduct test whose online forms are out on PU site.

Based on return on investment, full time 2 years MBA from top 30 B-Schools of India is the best option. MBA at Ivory League B-Schools abroad is very expensive and may cost up to one crore plus but if you can afford such costly education then MBA in Ivory League B-Schools is the best in the world. You can opt for B-Schools such as Horward, LBS, INSEAD, etc.

For getting admission in good colleges, you must have to give entrance exam like CAT, CMAT, etc. If a college gives you admission without any entrance exam, don't go there.

IIM-Indore
Nirma University

MBA in finance or marketing, both have equal job opportunities in comparison to others. If you are interested in HR then HR is also good.
Go as per your interest.
Provided, you do MBA from a good college so that it would be better for your placement and career growth.

Hello Akash,
IIM is the best option for pursuing MBA in Lucknow, followed by others like Jaipuria, Amity, etc. https://www.shiksha.com/mba/colleges/mba-colleges-lucknow
Here's the link to know about more colleges present in Lucknow.

Rank wise, the top B-Schools in/around Mumbai are:-
1. JBIMS
2. SP Jain
3. NMIMS
4. NIIE
5. IIM Indore(Navi Mumbai campus)
6. Sydenham
7. IIT(DMS)
8. KJ Somaiya
9. Welingkar
10. SIES

Since, you have 5.5 years of experience, you can also go for Executive MBA which is a better option for working professionals. It will help you in your career growth. Also, if you want you can go for distance MBA but regular MBA or E-MBA is better than distance MBA.