ORA-19722: datafile string is an incorrect version
Cause : The datafile is an incorrect version. It contains either less or more changes then the desired version.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Make sure the right datafiles are transported. Make sure the datafile is copied while its tablespace is read only.
Well, the reason for above error is that i have taken the above script from a 11g database and running it on 10g database. 11g has bring some changes in password management. Below code is executed on 11g and user created successfully, which is expected result.