Yum fails with 'Problem with the SSL CA cert path? access rights?' on clients registered to Satellite server

Issue

• While running yum commands on a host which is registered to Satellite server, it fails with following error.

  # yum repolist
  Loaded plugins: product-id, search-disabled-repos, subscription-manager
  Repo rhel-7-server-rpms forced skip_if_unavailable=True due to: %(ca_cert_dir)sredhat-uep.pem
  Repo rhel-7-server-satellite-tools-6.3-rpms forced skip_if_unavailable=True due to: %(ca_cert_dir)sredhat-uep.pem
  Repo rhel-7-server-satellite-tools-6.3-puppet4-rpms forced skip_if_unavailable=True due to: %(ca_cert_dir)sredhat-uep.pem
  Repo rhel-7-server-satellite-tools-6.4-rpms forced skip_if_unavailable=True due to: %(ca_cert_dir)sredhat-uep.pem
  https://satellite.example.com/pulp/repos/org/Library/latest/content/dist/rhel/server/7/7.7/x86_64/os/repodata/repomd.xml: [Errno 14] curl#77 - "Problem with the SSL CA cert (path? access rights?)"
  Trying other mirror.
  https://satellite.example.com/pulp/repos/org/Library/latest/content/dist/rhel/server/7/7Server/x86_64/sat-tools/6.3-puppet4/os/repodata/repomd.xml: [Errno 14] curl#77 - "Problem with the SSL CA cert (path? access rights?)"
  Trying other mirror.
  https://satellite.example.com/pulp/repos/org/Library/latest/content/dist/rhel/server/7/7Server/x86_64/sat-tools/6.3/os/repodata/repomd.xml: [Errno 14] curl#77 - "Problem with the SSL CA cert (path? access rights?)"
  Trying other mirror.
  https://satellite.example.com/pulp/repos/org/Library/latest/content/dist/rhel/server/7/7Server/x86_64/sat-tools/6.4/os/repodata/repomd.xml: [Errno 14] curl#77 - "Problem with the SSL CA cert (path? access rights?)"
  Trying other mirror.