What is the correct HDR mapping with blender internal (native) render? I downloaded HDR image from https://hdri-skies.com. And added it to world texture. There seems to be some problem in maping. 

What is the correct HDR mapping with blender internal (native) render?
The problem was not in the maping.

Equirectangular is the correct mapping method.

Problem was in World

In properties>World Paper Sky was checked and i had to un check this

Note: I also unchecked Blend Sky as it was giving a dull sublte lighting.