Don't have an MBA

I am currently working as deputy manager grade 2, in the capital accounts department in ICICI Bank. I like the work but I am being paid very less (41k per month to be precise). I am 24 now and I have an experience of 2+ years. Kindly recommend a few ways to get a salary of 1L+ Is MBA mandatory to get a big salary in corporates ? In most of the role having an MBA Is a pre-requisite.