SQL & PL/SQL :: Load Xml File Into Table Having Xmltype Datatype?

I'm trying to load xml file into table having xmltype datatype, but it is throwing below given error.I even tried to load data by changing '&' into '&' but still getting same error.

Error at line 6
ORA-06512: at "SYS.XMLTYPE", line 296
ORA-06512: at line 1
31011. 00000 - "XML parsing failed"
*Cause: XML parser returned an error while trying to parse the document.
*Action: Check if the document to be parsed is valid.

Version : ORACLE 11g, Windows 7

CREATE TABLE xml_test
(
id NUMBER(5),
NAME VARCHAR2(50),
xmldata xmltype
);
INSERT INTO xml_test(id, name, xmldata) VALUES(1,'file1', XMLTYPE(bfilename('SCOTTDIR', 'TEST_XML.XML'), nls_charset_id('AL32UTF8')));

TEST_XML.XML file content:

<?xml version="1.0" encoding="UTF-8" standalone="yes"?>
<!-- excelFolder:"c:CSD'TEST.XSL" -->
<File1>
<Version>1.6.1</Version>
<FileSource>Java&Conversion 1.2</FileSource>
<FileDateTime>2013-06-13T15:55:54</FileDateTime>
<Filecreatedby>Lo&ki</Filecreatedby>
<FileLocation>Bangalore</FileLocation>
</File1>

insert xmlfile having '&' data into xmltype column.