I have 6 years of work experience in IT and wish to get into product management. Which is a better course to join - ISB's PGP or IIM Bangalore's EPGP

There are two scenarios for product management 

1. B2B: Business to Business product management does not necessarily require MBA 
2. B2C: Business-to-customer product management is better with an MBA degree. The placements for MBA will get you a high-paying job in B2C product management. B Schools like ISB prefer a work experience of at least 4-6 years. Roles offered through placements include senior product manager to product manager.

The fact is no matter what your skills are, this industry is biased towards MBA. So the final decision should depend on what you are going for.