This good news comes from Nishat (PMIR95)
The "point-based calculator" for self assessment on the UK Border Agency website now awards 35 points for a qualification from XLRI. This means NARIC has updated its database and registered the XL PGD as being equivalent to British taught Master's degree. This is great news as the new Immigration rules only allow applicants with either a Master's or Ph.D qualification to apply.
On a separate note, Bappaditya and Vijay, many thanks for your resp NARIC certifications that you provided. It did the trick - I used it to lodge an appeal with NARIC and stated that they did have both BM and PMIR PGDs on their database as being equivalent to a British taught Master's degree. I got a NARIC certification in this process at no further cost !!
So that's the long and short of it !
Nishat (PMIR 95)