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Welcome to the forum!
Whenever you post provide your 4 digit Oracle version (result of SELECT * FROM V$VERSION).
I am getting high wait and high contention on DB
What high wait and contention are you referring to in what you posted?
The main thing I noticed was this:
Execute to Parse %: 0.24
That is extremely low. What period of time was the AWR for?
Do you know what what going on in the DB at that time?
See this link for a good explanation about execute to parse.
welcome to the forum!
a few pieces of advice:
1) when posting excerpts from an AWR report, please don't leave out the header (version, platform, RAC/standalone etc.) and load profile sections
2) when evaluating a problem, it's important to have some frame of reference. So this database, is it always behaving like this? Or since a certain date? Since a certain change? Is it possible to obtain an AWR report for a healthy period?
3) your top wait event indicates an application problem -- apparently, parallel threads try to modify same data at the same time, and Oracle row-level locking is correctly preventing that. You need to find the top DML statements that lock each other and see why the locking is so bad. Most likely, it's an application design issue