ORA-32626: illegal bounds or increment in MODEL FOR loop
Cause : FOR loop allows only numeric and datetime without timezone type for bounds. Only constants of interval and numeric types are allowed as increment/decrement expressions.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Check the SQL statement and rewrite if necessary.
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.