Bhatia’s realty software
Sabeer Bhatia, the co-founder of Hotmail plans to work on a real estate software that focusses on lease administration and finance accounting. While his main interest will be the US market initially, Bhatia plans to expand his base to include Indian realty firms later.
NHB to raise up to $200 m
The National Housing Bank (NHB) will raise up to $200 million in the next quarter under the new ECB (external commercial borrowing) window. The housing finance regulator would also try to raise funds on behalf of developers who were into low-cost housing.
Steel cos look for rate cuts
The domestic steel industry, now reeling under a severe sluggish demand, is betting big on the government’s infrastructure push and the expected easing of monetary policy by RBI as it goes past 2012, considered by manufacturers as “pretty tough”.