ORA-24400: error occured while creating connections in the pool
Cause : The database link specified in OCIConnectionPoolCreate might be an invalid one.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Specify a valid database link.
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.