YouTube has launched its collection of 400 movies which also has a collection of Hindi Bollywood movies and all of them can be watched for free. All you will need is a speedy internet connection to watch them one by one. As of now there are 63 movies listed and most of them are old movies like Sikandar, Pukar, Anarkali and some movies like Jail and Main Prem ke Diwani huin. Check out the list.
May be in future we will see more movies here and later we might just get paid version of many movies and we can watch them on rent.