Reports tab is blinking and continuous refresh after zoho reports integration

Reports tab is blinking and continuous refresh after zoho reports integration

I'm running version 9029 and we tried to set up Zoho Reports integration with an email account and an API key and we get the following message in the corresponding admin page:
 
FAILURE :Exception in displaying zoho reports configuration details.

Please report the problem to the system administrator. Support file will have the error trace to analyze the problem and which can be created at Support -> Create Support File.
 
And after this when we try to access the reports tab on the SDP it blinks with continuous refresh and changing browsers has no effect.