According to the University Grants Council you can do two undergraduate degrees. According to the Council you can do one degree at regular mode and the other degree should be at distance mode. Yes in this way you can do Bachelor of Arts Psychology in regular mode and Bachelor of Computer Applications (not MCA) in distance education mode.

Doing this will be considered valid by University Grants Council and the distance education degree will be of same as of regular mode degree.

Read More about pursuing two degrees at the same time by clicking on mentioned below link:

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.careers360.com/question-is-it-legal-to-do-two-degree-courses-at-the-same-time-in-india/amp&ved=2ahUKEwiei-nznr_1AhX1zjgGHWjeAdcQFnoECBMQAQ&usg=AOvVaw3zx2iwU9rkKqudBPNTKhve