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To clarify, PGDM is not a degree. It is a diploma course approved by AICTE. If you are looking to study for a Doctorate, PGDM is not recognized as a valid qualification unless acquired through some specific colleges. (Please refer http://goo.gl/N7wtcg to get a list of institutes whose PGDM is equated as MBA degree.)
As regards placements and faculties, Dr. VN Bedekar's Institute of Management has consistently achieved new heights. Most of the faculties here at least have a PhD and all the faculties possess wide and varied industrial experience.
You may refer the college brochure for in-depth details about placements and faculty.
Thank you and All the best.

You said you want to become a game developer. Is it game programming you are referring to? A game developer can be any person involved in the development of the game. He can be a programmer, producer, artist, modeller, etc. I am gonna assume you are interested in the programming.
If programming is what you want to do then I suggest you take up any Bachelor's degree in the field of computer science or IT (information technology) and learn about computers and programming at the college/university. When at home start implementing your skills by making games. There are plenty of resources available online which teach you the ways to begin with the game programming. I recommend Unity3D as a beginner game engine as it is easy to begin with and there are courses in Udemy for free which will cover basics. You need to learn C+ in order to code with Unity3D. However, if you find programming a bit difficult in the beginning you can look at construct 2 game engine to understand the basic flow of the game as it requires no coding. You can find tutorials to get started with the contruct 2. The only way you can learn game development is by making games so try to make as many small games as you can while you are at college. Once you complete your education, you can start applying in companies by showcasing the games you made.
In the game industry, your portfolio carries more weight than your degree. The degree here helps you in communicating with computers in a better way. So make sure that you are focused more on your goals.

Hi Sachin,
Preparation for the test is not necessary if you do certain things regularly like reading newspaper or going through news in paper, TV, internet, etc. Watching films like Indian, Foreign, etc. and having a writing habit writing in the sense kind of creative writing. If you are not habituated with this things then start. Basically, half of the question paper has GK & current affairs, objective questions on films & entertainment.The other half has creative writing, topics or situations are given one has to write on those.
I guess you got a clear picture of the preparation. If not, then please go through news; all kinds of news, read little bit of GK, watch films if you don't have time then at least know about classic, famous, recent, etc. films, film-entertainment related awards, etc. Write on a regular basis on current topics. Be creative through words.
Lastly, one thing I want to say that I haven't 'prepared' (so called prepared) but I was there in the top 3 among thousands of candidates. So, don't take pressure. Sometimes, your daily life makes you prepared.
All the best.