Magento admin redirecting in loop

I found the cause for the issue. It is due to enabling of SSL.

Use the below code in .htaccess for Apache server.

<IfModule mod_ssl.c>
    SSLOptions StdEnvVars
    SetEnv HTTPS "on"
</IfModule>

Using nginx with php-fpm add these lines to nginx.conf:

fastcgi_param HTTPS on;