Servicenow | 7 months in the firm

In MNCs, everything goes by rules and cycles. They can't give u neither promo nor hike out of thin air if it's not the right time.

And u can try for an external opportunity if money only u want after just working 7-8months and asking this in your current org will put the wrong impression.

Setup a 1:1 with your Manager. Ask him how your performance has been so far.

Understand from him whats the process of appraisals and promotions in this company.

Get examples of what criteria is used for considering an employee as an outstanding performer.

Finally ask what things you can improve.

After this, wait for one month. If you have gotten any pointers to improve work on them. Polish your strengths and then set up one more 1:1. Here ask what you can for your appraisal.

From my experience you will almost always get very realistic albeit diplomatic answer.

First point to observe: The salary offered in a PPO varies with the one at placements due to the gap of the season, you can have a chai sutta with your manager, plus point if he/she is also an IITian. Don't just strike an arrow on money, drive the conversation slowly towards it

I doubt either of it is possible given the time. You can try mentioning to ur manager casually but officially even he needs points to justify such request to HR.