Hello Aspirant,

No it is not compulsory you can also for other exam like CMAT, XAT and ATMA for getting admission in good MBA colleges, One thing that I want to say that you have to appear for MBA entrance exams for getting admission in good MBA colleges, However if you have a large amount of money with you than you can contact any agent for getting admission by donation, Even I have got some call from different agents who offers seats in colleges through donation but getting selected from your own self gives a better relief.

Rest is your decision.

I hope the above information is beneficial for you.

All the best.

Not necessarily. There are few colleges which do not have any entrance exam requisites. You can take direct admission. And CAT or MAT are not only the MBA entrance examinations. There are SNAP, ATMA, XAT too. The advantage of taking these entrance exams is they give you access to apply for IIMs and premiere B Schools of India.