Pros
Pay structure good according to standards. Work done on all technologies. Good for your CV. Good job security. Good for starting a carrier, as the freshers training given is really praiseworthy.
Cons
If you are lucky enough you might work for a great project with excellent feedback and wonderful onsite opportunities. But more often you'll be a victim of politics. Often we see that rotation for onsite opportunities is not followed. Whoever makes it abroad, stays abroad. The appraisal system is a total joke. Keep your manager happy for a good rating. Getting a good rating just by proving yourself, being good at work is not enough. Can kill your work /life balance. You are very much expected to be available during weekends. And people might think that you are just a phone call away. Recently they are making quite a mess with the job bands "better known as C-Life (article came out in Times of India)". So most of the employees are disgusted with that. Your younger colleague just might get paid more than you do.. :)