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I raised a SR with oracle support for this issue and got to know that this is actually caused by a bug( Bug no. 9524564) in Oracle RDBMS version 184.108.40.206. This bus was fixed in the 220.127.116.11 Patch Set.
So the solution is, either upgrade to the RDBMS version from 18.104.22.168 to 22.214.171.124 by applying patch set.
or Check with workaround by disabling bind peeking and setting "_fix_control" = '6163564:off' as mentioned in Bug 9524564.
alter session set "_optim_peek_user_binds"=false;
alter session set "_fix_control" = '6163564:off'