Which one is better correspondence course MA psychology from from IGNOU or MSc Psychology from University of Madras?

IGNOU is one of the biggest and the most well-known distance education universities in India and thus it should be preferred. However, I would suggest you to take a second thought regarding the correspondence course. 

Psychology is a highly practical course which needs guidance from professors for practical works, dissertations and internships. All these are possible only through a regular classroom course.

• In a correspondence course you learn the theories but do not learn the practical knowledge which is required in this field. 
• Thus you will have to struggle a lot to even land up an internship with a certified doctor. 
• You can imagine the struggle you will do to land a job later on. 
• Doubt clearing and concept learning are done better through regular classes as well. 
• In a correspondence course it is quite difficult and you will have to keep track of the professors to adjust yourself with their time schedule.

Do a regular course on clinical counselling or industrial psychology rather than this course otherwise your job prospects will drastically reduce.