Which college should I choose between SIMS Pune and SIIB Pune where both are old and the same placements and SIMS fee is low but SIIB peer quality is good?

SIIB is the third rank college in SNAP and has a high cutoff around 98 percentile. Since SIMS admits mostly students from defense backgrounds so the quality of peer of SIIB, is comparatively better.

There’s also another parameter that you should consider while choosing the right institute for your MBA, i.e. specialization.

• For Marketing and Finance, go for SIIB Pune. It is definitely a better choice, with more companies on campus as compared to SIMS. 
• If you are interested in Operation/SCM or HR go for SIMS. It has a large batch size for HR and Operations that ensures better placement opportunities and peer learning. 

Another factor that is crucial for choosing a management institute is ROI. SIIB offers a poor Return On Investment if you don't get the top jobs. However, recently SIIB is seeing very good placements. SIIB is better in long term.