I've recently discovered Radio Teentaal, a web-radio dedicated to "100% Indian music" - being streamed live from Paris.
It's certainly no surprise to see the radio being shoutcasted from some western country, since [that kind of] bandwidth is still not really affordable in India. But it's surprising to me that it's not from UK, US, Canada or another English-speaking country with large NRI community.
Anyway, they seem to play the latest popular Bollywood beats, no commercials, no interruptions, not even one the otherwise omnipresent self-advertisement jingles. Just pure music, at 128kBps stereo mp3.