Do you have any goals? Why did you consider those schools what other schools did you remove from the longlist?

I want to do an EMBA to move up to the higher level management positions, develop the critical skills, connections and knowledge needed to successfully start and grow my own company in future. The long list consists of Warwick, ESCP, Mannheim, Cambridge-judge, Frankfurt University, Rotterdam school of Management. I am in favor of RSM mainly because I live in Netherlands and it’s easy to commute and the university is also ok with the work experience I have. But universities like Cambridge required more work experience. So I am thinking if I should proceed with RSM/ Warwick or gain more experience and then apply to the other universities which are ranked better than RSM / Warwick.

Your goals are not very specific: skills, connections and knowledge. You could take an excellent online MBA from somewhere like Boston or Illinois, giving you the skills and knowledge of a top MBA. So, the question comes down to the third factor: connections. Where do you see your career geographically, and when do you want to take that entrepreneurial leap? If it's Benelux, then RSM is a great choice. You mentioned Mannheim and Frankfurt. If it's the DACH region, maybe you can save some money and take the RSM-Cologne double degree. Cologne is one of the most respected state universities for its undergraduate business programmes. But if it's elsewhere, Cambridge has a huge advantage.

PS You perhaps don't mean Frankfurt University (Goethe) but the FSFM (the former Bankakademie).

Thanks, Duncan, for the clear explanation. Even though I have the European passport, I prefer to go back to India and start my company in India. Do you still think I should stick with my preference of RSM or try for Cambridge or RSM- Cologne 

If you want to start in India, then the new online MBA from IIMA is the sensible alternative to Cambridge. I don't think RSM has comparable brand equity in India.
https://www.iima.ac.in/academics/onlinemba