Part Number: BEAGLEBK
Hi,
The below link was suggested for booting over serial console (minicom in my case).
http://processors.wiki.ti.com/index.php/AM335x_U-Boot_User's_Guide#Boot_Over_UART
The point 5 in the above link is
Select “u-boot.img” for the transfer
On replacing "u-boot.img" with "u-boot.bin",the board booted u-boot.
Regards,
-Adarsh