Pros
Only job security for untalented people who just want a tag to show their family and friends that they're software engineers. Matrimony place for single people. No tension, only chill. I know a lot of people who joined with me — after 1 year, still on bench. Then they got married, went for honeymoon, and still on bench. I left the company — they're still on bench.
Cons
Don't expect any hike, even if you're from Google or Microsoft. You'll only get a low hike, same as bench people. No matter how much work you did or how much appreciation you got, the hiring management doesn't care at the time of hikes. I saw bias based on gender, language, and region (India's states – North vs South) in this company, even while working on big projects. Come, get work, take money. After 1-2 years, switch if you don't like it. If you're okay with all of the above, then it's a heaven for you.