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In R12.2 access to values set values is controlled by RBAC data security. Have a look at this document: https://support.oracle.com/epmos/faces/SearchDocDisplay?_adf.ctrl-state=1alvuw0zc6_155&_afrLoop=170448808619780#REF_PURPOSE
Thank you @John_k for pointing me in right direction. I had no clue about this feature.
Pasting link I used to resolve it for others facing same issue.