Pros
Hi , there will be very less chance that you will get to work in a good project. Bits M.tech certificate will not be marked as regular. You will not get the experience certificate. PF account will not be opened for you. Only your actual experience will be helpful to see the corporate world as a trainee.
Cons
I don't support Wipro's WILP program where graduates like 20's age students taken from various location enrolled in a distance m.tech program and bond is signed for 5 years. Most of them will be trained and working on legacy project such as support role and IT engineers in banks like HDFC , ICIC etc. Wipro is taking advantage of graduates and those who are coming after 5 years from Wipro knows nothing about the new technology and they have no real time experience on that. I really feel sad that I am the victim of this. This is clearly a brain drain process in India.