In the present work, we investigate the bulk properties of nuclear matter and neutron stars with the newly proposed relativistic interaction NL-RS which provides an opportunity to readjust the coupling constants keeping in view the properties of finite nuclei, nuclear matter, PREX-II results for neutron skin thickness in 208Pb and astrophysical observations. The NL-RS model interaction has been proposed by fitting the ground state properties (binding energies and charge radii) of finite nuclei, bulk nuclear matter properties, and PREX-II results for neutron skin thickness of 208Pb. The relativistic interaction has been generated by including nonlinear self-interactions of σ and ω μ -mesons and mixed interactions of ω μ , and ρ μ -meson up to the quartic order. The proposed interaction harmonizes with the finite nuclei, bulk nuclear matter, and neutron star properties. A covariance analysis is performed to assess the statistical uncertainties on the model parameters and nuclear observables of interest along with correlations amongst them. The equation of state (EoS) composed of nucleons and leptons in β-equilibrium is computed with the proposed parameter set and used to study the neutron star structure. The maximum mass of the neutron star by employing the EoS computed with the NL-RS parameter set is 2.04 ± 0.03M ⊙ and the radius of a canonical mass neutron star (R 1.4) comes out to be equal to 13.06 ± 0.16 Km. The value of dimensionless tidal deformability, for canonical mass, is 602.23 ± 33.13 which satisfies the constraints of waveform models analysis of GW170817 within 90% confidence level.