The problem was in bearing of automatic tensioner of serpentine belt (previously known as fan belt in older days). In my above post I had erroneously mentioned timing belt / chain. Now I have edited my above post to reflect the correct situation.
Honda does not replace bearing alone, but complete assembly, which costs lot of money. Whereas new bearing is not so expensive.
Any mistri can do this job. Not big problem. However, what bothers me is that problem of this nature should not come after only 60,000 KM.