2010/4/2 Jatin Davey jashokda@cisco.com
Ok, i figured out the issue , Did some google on it and found this useful link on usage of proxy.
http://www.cyberciti.biz/faq/linux-unix-set-proxy-environment-variable/
or even better:
http://www.centos.org/docs/5/html/yum/sn-yum-proxy-server.html