While thousands were in attendance, crores joined in from across the country through video-conference.
Students have been directing questions to the PM on Twitter with the hashtag #ExamWarriors.
Two weeks ago, a book called 'Exam Warriors' penned by Modi was released.
PM Modi's 'Pariksha par charcha' with students
Modi reminds students about the importance of non-academic activities
Dedicating the day to students, Modi said that today, they will ask him questions and it is his "exam day."
"You aren't talking to the PM, you are talking to a friend," he said.
He elaborated on the importance of destressing, time management, extra-curricular activities and connecting with nature.
He urged students not to focus on competing with others, or doubt their parents' intention.
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Selected students got the chance to ask him questions directly
A few students got the chance to directly ask him questions. Samiksha from Delhi, Sanjana and Harsh from Pune, Kanishka from Noida, Pranav from Varanasi and others asked him about the importance of self-confidence, peer pressure, adequate rest, societal expectations, teacher-student bond and IQ-EQ balance.
Modi takes a class for parents too
Modi had advice for parents too. He urged them not to restrict their children's daily routine to just studies and asked them to encourage their kids to play.
"Everything must be done in balance," he said.
He also asked them not to impose their own dreams on them, or to compare them with others. "Don't make it a social status," he advised.
PM apologizes to non-Hindi speaking students
"I want to apologize to everyone whose native language isn't Hindi. I'm sorry I'm not able to speak in your language. It's my inability that I don't know Tamil, Malayalam, Kannada or dialects of the northeast. I request people to translate what I am saying."