Yum update Problems

Yum was throwing errors saying inaccessible repo. I tried recreating the repository using 'createrepo'. But it didn't help.

[root@myhost repodata]# yum update
Loading "rhnplugin" plugin
Loading "installonlyn" plugin
This system is not registered with RHN.
RHN support will be disabled.
Setting up Update Process
Setting up repositories
file://var/ftp/pub/rhel5/i386_32/Server/repodata/repomd.xml: [Errno 5] OSError: [Errno 2] No such file or directory: '/ftp/pub/rhel5/i386_32/Server/repodata/repomd.xml'
Trying other mirror.
Error: Cannot open/read repomd.xml file for repository: Server
[root@myhost repodata]#

The fix was simple. Done a
"yum clean all"

Everything started working..hurray..!!