Satellite launch vehicles are the rockets to carry the satellites and payload to space. ISRO has PSLV , GSLV and LVM3 as current active satellite launch vehicles. What is the full form of PSLV ? The full form of PSLV is Polar Satellite Launch Vehicle. It is an Indian expendable launch vehicle that has been developed and operated by ISRO (Indian Space Research Organization). It is India’s third-generation launch vehicle and also India’s first liquid-stage satellite launch vehicle. Discover the Polar Satellite Launch Vehicle ( PSLV ), ISRO's reliable workhorse for launching satellites into various orbits. Learn about its capabilities and significance for India's space program. PSLV is the third generation launch vehicle of India, equipped with liquid stages and solid strap-on boosters. It can launch multiple satellites into low earth, geosynchronous and geostationary orbits, and has launched two spacecraft to Moon and Mars.