Here I am Deputy editor in chief though I have never studied at any journalism schools. Are journalists coming from recognized institutions better?

In my personal experience, I would say no. Journalism isn't a licensed profession and journalism students learn various set of skills which isn't rocket science anyway. There are so many Medical Doctors, Lawyers, Engineers who write articles now and then and seem to have a better grasp than trained journalists at times. 

I studied journalism at my undergrad level and althought I had more practice than people studying other majors, I also know other studnets from other fields who bing the same passion and inquistiveness while covering a story.