3275792 - Error: "No such file or directory" when running SFTP adapter interface using PGP encryption

When sending messages through SFTP adapter using PGP encryption, it is possible to see the following errors in PI message monitor:

PGP Encryption Module: Invalid module configuration: Error reading public key <OS_PATH\PUBLIC_KEY> (No such file or directory)

MP: exception caught with cause com.sap.aii.adapter.pgp.ejb.api.util.InvalidConfigurationException: Error reading public key <OS_PATH\PUBLIC_KEY> (No such file or directory)

SAP NetWeaver

SAP Process Integration

Process Integration, PI, Process Orchestration, PO, NetWeaver, XI, AEX, SFTP, PGP, No such file or directory, InvalidConfigurationException, useSecureStore, public key, PGP key , KBA , BC-XI-CON-SFT , Secure File Transfer Protocol Adapter , Problem