The reason for getting the above error is due to Atlassion account lock & not related with App passwords.
So I have reset my Atlassian account(as per Atlassian’s servicedesk suggession ) using below url
https://id.atlassian.com/
So now git fetch is working fine.
If you forgot your current password you can reset password by below url
https://id.atlassian.com/login/resetpassword
Hope this help 🙂