Thanks to Hrishy and Dapi for such a good help.

I followed your steps. I enabled the TIMED_STATISTICS=TRUE and performed the followings:

1. Found out all Wait Blocks and Class from V$WAITSTAT.
2. I found out the FILES,BLOCKS causing BUFFER BUSY WAITS.
3. Found out the SEGMENTS related to the above FILES and BLOCKS.

I have the following questions/doubts for you. Will appreciate your time again.

1) I can see a Significant COUNT for FREELIST and DATA BLOCK CLASS/BLOCK in v$WAITSTAT view. I understand now, that it will be a solution to add more FREELIST to the objects to get rid of BUFFER BUSY WAITS. But when I see all the SQL statements runnig on my server, NONE of them are trying to INSERT data into table. Only LARGE SELECTS on the above SEGMENTS are there from multiple processes.
a. IN SUCH CASE, do you think ADDING FREELIST will help me?
b. OR Suggest me if I have to take care of other things.
c. I was reading in one of the Oracle site that, BUFFER
BUSY WAITS might occur due to access of the same rows in a
block/buffer by multiple processes and they are suggesting
to reduce NO of ROWS per block. HOW TO REDUCE # OF ROWS
PER BLOCK?

2) The parameter PROCESSES are set to 1000. Which is in a higher side. Does this high value has any effect to the performance



Regards