Dear Girish,
This is multidisciplinary matters (Pressure vessel, Process, Inspection and mechanical as the least party), which is closely related with legal matters.
I prefer not provide any answer since I don't know:
a. What kind of pressure vessel these PSVs are protected
b. What type of PSV (Rupture disc, Bellows, conventional, Pilot, etc.)
c. Setting pressure against Operating pressure
d. Is it possible for exothermic reaction shall the PSV fails
e. The most important, what regulations govern the Plant (standard, and legal)
Please use other thread as guidelines, which is also from this forum.
Also consult with your senior inspection or Process personnel (of the plant) and or government re-certification representative will provide you some enlightenment for sure.
Hope I inform you sufficiently.
Regards,
MR
Greenfield and Brownfield have one thing in common; Valve(s) is deemed to "run to fail" earlier shall compared to other equipments