Himanshu,
I missed this one as could not see it earlier.
This does not come to my area as I can guide you more about the career option rather the education option but as far as I know there are various private, government and government affilated institution which provide distance learning option. IGNOU, Sikkim Manipal University, Anna-Malai University, Kurukshetra University are few of them.
While selecting the education institute please look for following things.
1. Whether the course is affiliated/approved by any Government Recognize organization like UGC, AICTE.
2. Practical knowledge in computer area is must. As you cannot learn in this line only by reading books. So find whether they are conducting practical classes or not. I know that IGNOU. Sikkim Manipal University are conducting practical classes for MCA student.
3. Are they giving you the chance of working in some live projects?
4. Are they having some tie up with some industry so that one can get the industry experience. Some of the private institutes like NIIT are having the same in some selected cities.
5. See the syllabus, whether they are teaching the latest tools/programming language. I have seen institutes which are still teaching Visual Basic 5.0 while there are many new versions came after that. So one should look for VB.net... not less than that.
I think it would help someone to find the right institute