Android Scale Animation with bounce interpolator

Finally got the solution. It works for me and could be helpful to others. The key was to put the android:interpolator tag in the animation set.

<?xml version="1.0" encoding="utf-8"?>
<set xmlns:android="http://schemas.android.com/apk/res/android"
android:interpolator="@android:anim/bounce_interpolator" >

<scale
    android:duration="600"
    android:fromXScale="1"
    android:fromYScale="0.5"
    android:pivotX="50%"
    android:pivotY="0%"
    android:toXScale="1.0"
    android:toYScale="1.0" />

<alpha
    android:duration="600"
    android:fromAlpha="0.0"
    android:toAlpha="1.0" />

</set>