2485046 - UME Authorization Error "JCO_ERROR_LOGON_FAILURE: No authorization to logon to the target system"

NetWeaver system is not coming up and below error is logged:

JCoException: (103) JCO_ERROR_LOGON_FAILURE: No authorization to logon to the target system JCoException: (103)

Below exception is getting logged in std_serverX:

com.sap.engine.frame.ServiceException: Start of UME service failed. Check help topic "Start of UME Service Failed". Technical details: 
com.sap.conn.jco.JCoException: (103) JCO_ERROR_LOGON_FAILURE: Initialization of destination UMEBackendConnection failed: 
No authorization to log on to the target system (error code 53). on xxx.xxx.com sysnr 03
	at com.sap.security.core.server.ume.service.UMEServiceFrame.start(UMEServiceFrame.java:465)
	at com.sap.engine.frame.ApplicationFrameAdaptor.start(ApplicationFrameAdaptor.java:31)
	at com.sap.engine.core.service630.container.ServiceRunner.startFrame(ServiceRunner.java:165)

• SAP NetWeaver 7.1
• SAP NetWeaver 7.2
• SAP enhancement package 1 for SAP NetWeaver 7.3
• SAP NetWeaver 7.4
• SAP NetWeaver 7.3

Enterprise Portal 7.1, EP 7.1, Enterprise Portal 7.2, EP 7.2, Enterprise Portal 7.30, EP 7.30, Enterprise Portal 7.31, EP 7.31, Enterprise Portal 7.40, EP 7.4, DNS, resolution problem, not found, not reached, ashost, abap, backend, naming, destination, JCO, LOGON, Failure, UME , KBA , BC-JAS-SEC , Security, User Management , Problem