I'm trying to model an centre-tapped inductor using PSIM. but not able to do so properly. If anyone has any experience in that regard please do share with me. It will be highly appreciated.

 

I don't know PSIM (assume you're using PowerSim), but in SPICE for a tapped inductor or transformer winding just put two inductors in series. The tap is where the two inductors are connected together. For example, look closely at the attached LTSpice circuit example for a center-tapped transformer modelled with mutually coupled inductors. I also attach a .zip archive of the LTspice simulation files.