What is the internship status at PIBM, Pune? What is the amount paid by them at the time of intern (both WIP.SIP)?

One of my friends is a student of PIBM Pune. According to him, an internship's purpose is not about earning only money.

• They are a connection that connects the academic and the corporate world.
• When you choose your internship, keep the nature of work in mind. You should know what profile you are applying for.
• Your focus should be on adapting to the corporate culture. You have to understand what skills are required to excel in a particular field.
• You also have to focus on networking and reaching out to people.

While in an internship if you are receiving an amount of money for your work, it is obviously good. But it is not only about the money. Internships are mainly your first step to the corporate world and their functions. Acquiring skills are most important, which will later help you in life.