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You are doing okay !! 4years with 17LPA is not bad.
Rather than distance MBA, you can go for BA related Certifications like PSPO1 , Scrum Master (you can complete in 1 month), CBAP, ECBA , PBA, CFLBA etc.
Have a master's degree . As after certain role u wont get promotion due to not having right degree
That's not the case.
Masters degree doesn't guarantee a senior position.
If someone is earning well, with a normal bachelor's from a good tier college, while displaying good leadership qualities at senior positions, he will keep growing.
This is visible in the leadership of all major corporates.
Even many senior managers/ AVP/ VP positions in my company and past companies are filled by Btechs only.
It might help in growth but neither the mandatory condition to get promoted to leadership in corporates, nor the deciding factor.