The below code wroked for me.
cmd = New OracleCommand
cmd.Parameters.Clear()
cmd.CommandText = "Insert Into Tbl_Trans_Log(UserID,TransID,TransDate,ActionDone) values (:userId,:logId,:transdate,:action)"
cmd.CommandType = CommandType.Text
cmd.BindByName = True
cmd.Parameters.Add(New OracleParameter(":userId", OracleDbType.Int64)).Value = intUserID
cmd.Parameters.Add(New OracleParameter(":logId", OracleDbType.Int64)).Value = intLogID
cmd.Parameters.Add(New OracleParameter(":transdate", OracleDbType.Date)).Value = DateTime.Now
cmd.Parameters.Add(New OracleParameter(":action", OracleDbType.Varchar2)).Value = strDesc
oraConn = New OracleConnection(ConfigurationManager.ConnectionStrings("xxxxxxxxx").ConnectionString)
oraConn.Open()
cmd.Connection = oraConn
cmd.ExecuteNonQuery()