Thanks Michael, It worked.
Now there is a new issue I am using my email id as Rally user name
Log error:
************************************************************************************************************
ca_agile_central2_qc_connector version: 4.6.5-94
pid: 3916
starting at: 2017-08-08 10:48:12 Z
cwd: c:/Program Files (x86)/CAAgileCentralConnectorforQualityCenter
configs: qc_config_test_qc_to_rally.xml
interval: -1
Work Item Connector Hub version: 1.1.1-810-master/master
RallyConnection spoke version: 4.10.0 using rally_api gem version 1.2.1
QCConnection spoke version: 4.6.5-94-master
************************************************************************************************************
[2017-08-08 10:48:12 Z] INFO : RallyEIF::WRK::ConnectorRunner.show_logging_settings - Log file size set to 5242880
[2017-08-08 10:48:12 Z] INFO : RallyEIF::WRK::ConnectorRunner.show_logging_settings - Log files maximum count set to 10
[2017-08-08 10:48:12 Z] ANY : RallyEIF::WRK::ConnectorRunner.block in run - processing to commence using content from qc_config_test_qc_to_rally.xml
[2017-08-08 10:48:12 Z] ANY : Class.read_config_file - qc_config_test_qc_to_rally.xml last modified 2017-08-08 10:47:51 UTC, size: 1852 chars
[2017-08-08 10:48:22 Z] ANY : RallyEIF::WRK::RallyConnection.initialize - Initializing Rally connection version 4.10.0
[2017-08-08 10:48:22 Z] INFO : RallyEIF::WRK::RallyConnection.initialize - Rally Web Services version v2.0
[2017-08-08 10:48:22 Z] ANY : RallyEIF::WRK::QCConnection.initialize - Initializing Quality Center connection version 4.6.5
[2017-08-08 10:48:22 Z] INFO : RallyEIF::WRK::Connector.initialize - Ruby platform i386-mingw32
[2017-08-08 10:48:22 Z] INFO : RallyEIF::WRK::Connector.initialize - Ruby version 2.0.0
[2017-08-08 10:48:22 Z] INFO : RallyEIF::WRK::QCConnection.connect - Connecting to Quality Center at https://qc4f.austin.hpecorp.net:8443/qcbin as user monika-nathuram.nalawade
[2017-08-08 10:48:22 Z] DEBUG : RallyEIF::WRK::QCConnection.block in identify_qc_version - Preparing to open Registry to examine: Software\Classes\CLSID\{C5CBD7B2-490C-45f5-8C40-B8C3D108E6D7}\InprocServer32
[2017-08-08 10:48:22 Z] DEBUG : RallyEIF::WRK::QCConnection.block in identify_qc_version - Registry Software\Classes\CLSID\{C5CBD7B2-490C-45f5-8C40-B8C3D108E6D7}\InprocServer32 opened...
[2017-08-08 10:48:22 Z] DEBUG : RallyEIF::WRK::QCConnection.block (2 levels) in identify_qc_version - Registry path to HPQC OTAClient.dll ==> C:\ProgramData\HP\ALM-Client\qc4f\OTAClient.dll
[2017-08-08 10:48:22 Z] DEBUG : RallyEIF::WRK::QCConnection.win_path_expanded - expanded Registry path to DLL target: C:/ProgramData/HP/ALM-Client/qc4f/OTAClient.dll
[2017-08-08 10:48:25 Z] INFO : RallyEIF::WRK::QCConnection.connect - Connected to Quality Center at https://qc4f.austin.hpecorp.net:8443/qcbin/wcomsrv.dll (version 12.01.2656.0)
[2017-08-08 10:48:28 Z] INFO : RallyEIF::WRK::QCConnection.connect - Domain: TSG_ESSN
[2017-08-08 10:48:28 Z] INFO : RallyEIF::WRK::QCConnection.connect - Project: CIC
[2017-08-08 10:48:28 Z] INFO : RallyEIF::WRK::RallyConnection.connect - Connecting to Rally
[2017-08-08 10:48:28 Z] DEBUG : RallyEIF::WRK::RallyConnection.connect - In connect begin clause - connecting to Rally via rally_api
[2017-08-08 10:49:10 Z] DEBUG : RallyEIF::WRK::RallyConnection.rescue in connect - StandardError: RallyAPI: - rescued exception - A connection attempt failed because the connected party did not properly respond after a period of time, or established connection failed because connected host has failed to respond. - connect(2) (https://rally1.rallydev.com:443) on request to https://rally1.rallydev.com/slm/webservice/v2.0/security/authorize with params {}
[2017-08-08 10:49:10 Z] ERROR : RallyEIF::WRK::RallyConnection.rescue in connect - Could not connect to Rally at https://rally1.rallydev.com/slm using Username/Password credentials
[2017-08-08 10:49:10 Z] ERROR : RallyEIF::WRK::RallyConnection.initialize - RallyAPI: - rescued exception - A connection attempt failed because the connected party did not properly respond after a period of time, or established connection failed because connected host has failed to respond. - connect(2) (https://rally1.rallydev.com:443) on request to https://rally1.rallydev.com/slm/webservice/v2.0/security/authorize with params {}
[2017-08-08 10:49:11 Z] INFO : RallyEIF::WRK::QCConnection.disconnect - Disconnected from Quality Center
[2017-08-08 10:49:11 Z] ANY : RallyEIF::WRK::ConnectorRunner.run_services - There was an error in processing so the Time File was not written