You have the same odds as other XLRI applicants. Your psychology major is not a disadvantage. XLRI requires a 3-year bachelor's degree after 12th grade, an entrance exam, and a group discussion/personal interview for all applicants. Academic excellence may boost a candidate's evaluation. XLRI interviews candidates who score over the minimum cutoff in the admission exam (XAT) and do well in the GD round. Different selection criteria are weighted.