Many of My Students, Juniors and Friends ask my "Why MPhil Now? Is it valid?"
I have the justification.
1. What is Validity of a degree? Yes, in terms of NET exemption it is not valid. but it is a still a good degree. Think about pre-2006 Mphil. Why they did MPhil? Then there was no NET exemption.
2. Mphil has additional marks in College Librarian/ Univ Asst Librarian Interview.
3. If you join College/University with Mphil+NET, you will get 2 additional increment.
4. If you complete MPhil during service, you will be offered, 1 additional increment.
5. Once You have done MPhil with course work, you need not to go for course work again during PhD.
6. Easier to get a seat in PhD later.Several Universities indirectly refuse admission in to Phd direcly, rather offering Integrated Phd with first 2 years as MPhil . (JNU)
7. With MPhil you will be promoted to Senior Scale in 5 years. Advantage of 1 year.
So, "SOMETHING IS BETTER THAN NOTHING"
Go for MPhil at least, if you could not get a seat in Phd.