TAPMI is the obvious choice from the two colleges because of the following reasons.

Reputation:

TAPMI is a well-established college with a good reputation, experienced faculty, rich alumni, and better placements. Whereas NMIMS Bangalore is a relatively new college mentored by the NMIMS brand.

• TAPMI was ranked 19 and 27 respectively by India Today 2019 and NIRF 2020 for MBA.
• NMIMS Bangalore was ranked 29 for MBA by India Today 2019.

Placements:

• Placements too are better in TAPMI for the 2019 batch the highest package offered was 25 LPA, while the average package was 11.05 LPA About 126 recruiters have visited the campus. About 52 Pre-placement offers were made.
• For the 2019 batch in NMIMS Bangalore, the highest package offered was 21.38 LPA and the average package was 10.5 LPA. A total of 91 companies have visited the campus and about 19 Pre-placement offers were made.

Infrastructure:

TAPMI offers great infrastructure. The finance lab is one of the best in the country. It is powered by 16 Bloomberg terminals and 7 Thomson Reuters terminals. Even many old IIMs do not have these facilities.

TAPMI offers admission through CAT whereas NMIMS Bangalore conducts NMAT for admission, so it is evident that you will be among better peers at TAPMI. Despite the locational disadvantage, TAPMI will be the best choice out of the two.

Between TAPMI and MDI Murshidabad, TAPMI should be preferred for various reasons. Some of which are discussed below.

The table below gives a brief overview of the two institutes.

Reputation: (Winning Institution - TAPMI)

TAPMI is a well-established college with 40 years of teaching, it has a good reputation, experienced faculty, and rich alumni base. Whereas MDI Murshidabad is a fairly new establishment. 

Placements: (Winning Institution - TAPMI)

TAPMI also has an edge over MDI Murshidabad when it comes to placement. 

• The highest package offered at TAPMI was 25 LPA, while the average package was 11.05 LPA for the last placement drive. About 126 recruiters have visited the campus. 
• In MDI Murshidabad for the 2020 batch, the highest package offered was 21 LPA and the average package was 11 LPA.

If you have to make a choice between these two schools TAPMI will be the best due to its reputation and placement. However, if you have the time and option to prepare for next year and you think you can do better, you should consider it.