I plugged in my Beagle to a serial port and powered it through USB
OTG, the lights come up in the order as mentioned in the BBSRM but
there is no output on the serial terminal session. The minicom
settings have been double checked to be correct and the cable has been
tested with loopback configuration.
What could I be doing wrong?
Try the cable either with or without a null-modem adapter. If you're using one, try without it. If you aren't using one, try with it.
Also, you might want to try screen or cu as a simpler alternative to minicom.
The default settings in minicom work to display the output from the beagle, but you won't be able to send any keystrokes as the flow control needs to be turned off.