Part Time MBA

To get placements, you should join a regular college.

Yes, if MBA is done from a reputed college through distance mode, then one can get a job easily. It depends on one's ability and skills to get a good job. You should have the knowledge of the course and to present yourself in better way. It depends on interview and after gaining experience, you will get everything easily.

You can pursue part time MBA from NMIMS. They offer PGD degree.
You can check the below mentioned link:
https://www.shiksha.com/mba/course/master-of-business-administration-nmims-university-school-of-business-management-vile-parle-west-mumbai-228136

MFSM course do add value but it is necessary to have a good exposure in the field of finance. Work experience in finance profile is more adding to benefit.

You are eligible to do PhD in Management if you have done your part time MBA from a recognised university or PGDM from a AIU recognised B-School.

Hi,
List of colleges:
Institute of Public Enterprise | Shamirpet, Hyderabad
Indian School of Business | Gachibowli, Hyderabad
WLC College India, Hyderabad (WLCI) | Banjara Hills, Hyderabad
Aurora Group of Institutions (Aurora, Hyderabad) | Chikkadpally, Hyderabad
Trade Wings Institute of Management, Hyderabad | Mehdipatnam, Hyderabad
https://www.shiksha.com/mba/colleges/part-time-mba-colleges-hyderabad

Part Time MBA colleges in Mysore :
Amity Directorate of Distance and Online Education, Amity University
Indian School of Business Management & Administration
Sikkim Manipal University - Distance Education (SMU-DE)
Karnataka State Open University

See, even though the colleges is very good, no doubt, but if you get two year MBA/PG course it helps you to look out for more opportunities and if you have work experience the study here will be easy for you to grasp. In the end, it depends on your intellect.
Good luck.

Kindly refer to the link mentioned below:
https://www.quora.com/How-is-the-part-time-MBA-program-in-India
http://www.mapsofindia.com/education/mba-colleges/part-time.html