Welcome Karan. If you don't have the PSP 3000 model, your PSP is probably hackable. All you need to do is get a "Pandora's battery" which is a dual set of a Memory Stick with some special files on it, and a Battery which allows you to go into the recovery mode and boot from your memory stick. Then you can install your custom firmware. If you don't want to go through the trouble there are services that people will hack your PSP for you.
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