Which is a better option, CIMA or CMA?

Hi Ravi

I would guide you better take first CMA and complete.

Next after completion register for CIMA , where already exemption given to some papers for apperance .

I would suggest you to go for CIMA, it is well revered professional accounting course recognised worldwide. But before that if you are doing MBA, let it get completed coz, you get exemption from few papers if it is from well recognized university and can straight away complete their CIMA fast track course. For more info you can log onto CIMA website.