FRM-92095: Oracle JInitiator version too low. Please install version 1.1.8.2

FRM-92095: Oracle JInitiator version too low. Please install version 1.1.8.2
I found the root cause for this issue and following is the solution.

Solution:

Root Cause:
Oracle Forms is not compatible with JRE 7 yet

Fix:
1.    Uninstall JRE Version 7
Help Document to uninstall: http://www.java.com/en/download/uninstall.jsp

2.    Once JRE 7 has been un-installed then install latest version of JRE 6 Standard Edition which can be downloaded from here.
http://www.oracle.com/technetwork/java/javase/downloads/index.html

3.    Clear browser cache. Close and Re-launch the browser and finally retest the issue.

Note:
Ensure that JRE updates are done manually by unchecking the "Check for Updates Automatically" button under the Java Control Panel
http://www.java.com/en/download/help/java_update.xml