SQL & PL/SQL

hi,
i m facing sever issue with row lock contention error for the statement and causing concurrency and application usage more making database vulnerable

UPDATE RULE_DATA SET RULE_DATA = :B3 , UPDATED_BY = :B2 , UPDATED_DATE = SYSDATE WHERE RULE_DATA_SEQ_ID = :B1
RETURNING PAT_GEN_DETAIL_SEQ_ID INTO :O0

in this query RULE_DATA_SEQ_ID is primary key and and having index too, how can i over come row lock contention error ,

if i try like this will it work

UPDATE RULE_DATA SET RULE_DATA = :B3 , UPDATED_BY = :B2 , UPDATED_DATE = SYSDATE WHERE RULE_DATA_SEQ_ID = :B1
RETURNING PAT_GEN_DETAIL_SEQ_ID INTO :O0
log errors into temp_log (sysdate||:O0 ) REJECT LIMIT UNLIMITED;
commit;

please help me;