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Hi Dear,
The Graduate Aptitude Test in Engineering (GATE) is an examination which is used for admission into postgraduate programme or recruitment in Public Sector Undertakings (PSUs) of engineering students. However, whether you are eligible to sit for PSU interviews in third year differs from PSUs to PSU. Some PSU calls students from third year for interviews but others may not. Also, you can join any PSU only if you have your graduation certificate ready. So appearing for PSU interviews in final year is beneficial and widens your opportunity.
Good Luck
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