Pros
Good learning opportunity for individuals with low experience. Good hands on experience for freshers. Easy to maintain a work-life balance. RnD team members do get some interesting work occasionally. Decent place to work for the majority of people in tech.
Cons
Technology is completely outdated and there is no scope of moving to newer tech(the product uses it's own variation of the entity framework). Working here for long could restrict many future opportunities since you will have no exposure to new tech or frameworks(eg: MVC, Angular, React). Average employee tech knowledge in India is quite poor. Promotions will be based more on tenure than on skillset(more like a government office). Quite a lot of people in management have very less or no technical knowledge and this leads to a demotivating environment. Interviews are rarely based on any practical knowledge and more on things that can be mugged up.