HANA STUDIO INSTALLATION JAVA ERROR

Dear Experts,

While installing HANA studio on my laptop, I get the following error:

ERR: NO JAVA INSTALLATION FOUND(VERSION 1.6 OR 1.7, 64 BIT REQUIRED)

But I do have Java runtime 1.6_0_24 installed on my laptop.

Can you please help with, what I may be missing?

Many thanks...Raju.