SQL & PL/SQL

Hi Friends

I am facing a problem, it executing an running and in use procedure. It works fine on Oracle 7. While compiling the same on Oracle 9i (9.2.0.1.0) it gives ORA-06550 error.

I have re-written the same, it won't help

Please help me with the same

Following is the procedure and error.

create or replace procedure basnew as
cursor c574 is
select empnumber empno,cca bas
from ccaamt;
begin
for r574 in c574 loop
update t_mpy_other_monthly_earnings
set
alw_rate = r574.bas,
alw_paid = r574.bas
where
empnumber = r574.empno and
alw_code = '235';
end loop;
end;
/
exec basnew

SQL> exec basnew
BEGIN basnew; END;

*
ERROR at line 1:
ORA-06550: line 1, column 7:
PLS-00905: object AIPAY.BASNEW is invalid
ORA-06550: line 1, column 7:
PL/SQL: Statement ignored

Thanks