BUG #14303: Issue in configuration of ODBC to connect PostGres

The following bug has been logged on the website:

Bug reference: 14303
Logged by: sriparna mondal
Email address: sriparna(dot)mondal(at)ericsson(dot)com
PostgreSQL version: 9.3.10
Operating system: CentOS release 6.7 (Final)
Description:

We are trying to configure ODBC to connect Postgre DB.

[root(at)dselilx4374 ~]# cat /etc/odbcinst.ini
[PostgreSQL]
Description = ODBC for PostgreSQL
Driver = /usr/local/lib/psqlodbcw.so
Setup = /usr/lib64/libodbcpsqlS.so
FileUsage = 1

[root(at)dselilx4374 ~]# cat /etc/odbc.ini
------ /etc/odbc.ini file begin -----
;
; odbc.ini
;
[ODBC Data Sources]
test = PostgreSQL Test

[test]
Driver=PostgreSQL
Description=Sample PostgreSQL DSN
DSN=test
Servername=localhost
Username=postgres
Password=postgre
Database=test
ReadOnly=1
Servertype=postgres
Port=5432
FetchBufferSize=99
ServerOptions=
ConnectOptions=
Options=
ReadOnly=no
Trace=1
TraceFile=/tmp/odbc.trace
Debug=1
DebugFile=/tmp/odbc.debug
CommLog=1

[Default]
Driver = /usr/local/lib/psqlodbcw.so

[ODBC]
InstallDir = /usr/local/lib/psqlodbcw.so

------ /etc/odbc.ini file end -----

[root(at)dselilx4374 ~]# odbcinst -j
unixODBC 2.2.14
DRIVERS............: /etc/odbcinst.ini
SYSTEM DATA SOURCES: /etc/odbc.ini
FILE DATA SOURCES..: /etc/ODBCDataSources
USER DATA SOURCES..: /etc/odbc.ini
SQLULEN Size.......: 8
SQLLEN Size........: 8
SQLSETPOSIROW Size.: 8

But we are getting below error.

[root(at)dselilx4374 ~]# odbcinst -q -s
odbcinst: SQLGetPrivateProfileString failed with Unable to find component
name.

Can you pls help? Able to connect to DB using 'psql'.

Thanks,
Sriparna