Hi Parth Budhiraja,
This error mainly occurs for either of the below reasons
1) Inactive ICF nodes : Please make sure that the ICF service FIN_CHECKMNG is activated in two locations.
Default_Host>SAP>BC>BSP>SAP>FIN_CHECKMNG
Default_Host>SAP>BC>UI5_UI5>SAP>FIN_CHECKMNG
2) Wrong configuration in system alias : Make Sure the system alias is configured properly.
Its always a good practise to clear the cache by running the report /UI2/INVALIDATE_GLOBAL_CACHES in the front end server.
If other apps are working good then the chances of failure are more with (1) and OData service activation.
Regards
Virinchy