Kernel panic not syncing VFS: unable to mount (CentOS)

Usually this error occurs when user update the operating system and this is the centos bug. And this error belongs to kernel.

https://bugs.centos.org/view.php?id=7827

Solution:

Logon to the previous version of kernel or stable one, when the user update it. Delete the update kernel file.

On Terminal:

# rpm -qa  | grep kernel*

It will list all the kernel that are installed. Remove the updated one. Then reinstall the kernel package or update the machine.

# yum update -y

Reboot the machine and Voila..