Why does the "subscription-manager list" command return Red Hat Enterprise Linux Version as '7.1' instead of '7.2' which is already installed?

Issue

• After upgrading from Red Hat Enterprise Linux 7.1 to Red Hat Enterprise Linux 7.2, the subscription-manager list command still shows version 7.1 in its output:

  # subscription-manager list
  
  +-------------------------------------------+
     Installed Product Status
  +-------------------------------------------+
  Product Name:   Red Hat Enterprise Linux Server
  Product ID:     69
  Version:        7.1
  Arch:           x86_64
  Status:         Subscribed
  Status Details: 
  Starts:         23/04/13
  Ends:           31/12/21