List of top B Schools.

which one is better?

Indian Institute of Management, Ahmedabad (India)
vs.
Indian School of Business (India)

any other Indian school with similiar reputation to these two? speaking strictly about B-schools....

ISB or IIMA??

it depends on ur background.
If you have work exp/good acads/extra curricular and looking for 1 yr MBA then ISB is the best.
On the other hand people with no work exp but /good acads/extra curricular can still get admission in IIMA.
Recently placement record of ISB is much better than IIMA.

Personally, i prefer ISB.

In Chennai, I have heard that Great Lakes Institute of Management offers wonderful placements. I want to know whether studyin there will fetch me the MBA degree since I heard that it is not AICTE approved. Does the degree obtained from that institution is valid & recognized all over India?

And one more thing is, What's difference between one-year programme & two-year programme. How effective will the one-year programme be?

Please help me in this regard.