As per the official website, the online registration for MBA admissions at FMS Delhi takes place from the second week of September to the second week of December. The announcement of candidates shortlisted for GD+PI is held in the first week of January. The GD and PI rounds take place around March second week, and the course finally commences in the first week of July. 

These timelines can vary, but this is the usual pattern for the MBA selection cycle at FMS Delhi. 

Assuming that you have a graduation score greater than or equal to 45%, it is possible. But you will have to justify your academic performance in the interview and convince the panel that you will do exceedingly better than what your profile suggests. Considering the kind of candidates that FMS can choose from, it would take you quite an effort to do this.

It would be wise to keep your options open instead of putting all your eggs in one basket. Convincing the panelists is just one part of the story. You will then have to significantly transform your CV, become mentally prepared to be rejected by a few companies and crack the final process during your placements. So, you should take a couple of mocks or solve the CAT 2019 paper, understand the bracket that your final score will probably lie in, and then focus on those institutes.

The new IIMs still have a long way to go and it will take several years for them to reach the level of top B-Schools like XLRI and FMS. It would take them a long way to reach there. It’s only after joining a B-School, that you realize a B-School is as good as its alumni. Top B-Schools have a large alumni base occupying executive positions in top MNCs. This in turn improves the brand value of these institutes.

Additionally, there are several companies that visit only the top 4-6 B-schools for summer and finals. Once you conduct in-depth research you will realize how many CHROs & CEOs are from XL and FMS. New IIMs would have to struggle hard to reach that level. Companies have a fixed pattern for recruitment for summers and finals. They stick to the same pattern and thus visit the same institutes every year. This is exactly why companies go through the immense struggle of visiting a remotely located institute like XLRI because they are sure of its worth and credibility. 

Well, it entirely depends upon your friend and his professional profile.

He can think of a reattempt if:

1. He has a great academic record in X, XII, and graduation 
2. He has a work experience of at least 2 years at present.
3. He is confident of scoring high enough to get a call from IIM A, B, C next year and convert at least one of them successfully.

However, he should thoroughly evaluate his chances of being successful in securing his place in either IIM A, B, or C. Also, will his/her profile be good enough next year? With the admission criteria changing every year, it's not advisable to drop an offer from one of the premier non-IIM B- Schools for CAT retake. The cost of dropping a year in terms of money, time, and work experience, in particular, should be thoroughly evaluated. 

Drop a year only after careful consideration. Otherwise, it will be wise to join FMS and give MBA a shot.

Pursuing an MBA from a top college like an IIM can provide many benefits, such as excellent campus life, an increased likelihood of getting a desired job, and boosting the overall value of your career. It’s viable to obtain a loan to pay for it because the interest rates are often low, and there is a grace period before repayment begins.

IIMs should be given more priority than colleges like FMS, TISS, JBIMS, or XLRI as they have more brand value and can offer better opportunities in terms of networking and job prospects. However, it is a personal decision that should consider your career goals, financial situation, and personal preferences.