Thanks you for your query. The condition for AIU approval that you mentioned is valid for new institutes only. For already AIU approved institutes, AIU approval for PGDM course equivalence to MBA remains valid till NBA accreditation is valid. You can also check the same at AIU website or below mentioned link.
FIIB is a 20 year old, established and reputed institute which has been accredited by the NBA twice in the past. Our AIU approval also for your information is a 5-year approval. However at FIIB, we are more stringent than the external accreditations and approvals are the internal quality mechanisms. We have a full blown Quality Assurance cell that audits and suggests continuous improvement initiatives for all aspects of our academic and non-academic existence. We would encourage you to come, visit as you make up your mind about the right B-school for yourself. Good luck! Do let us know if you have any other questions.
The FIIB Admissions Office