Radio Today has given a bank guarantee of Rs 17.87 crore for setting up FM stations in Delhi, Calcutta and in Mumbai. The Millennium group has paid a total of Rs 20.17 crore for FM stations in Delhi, Chennai and in Mumbai. The split-up is like this: Millennium Delhi has paid Rs 7.12 crore; Millennium Chennai Rs 3.3 crore and Millennium Mumbai Rs 9.75 crore.

The last date for paying the bank guarantee to set up FM stations is October 30. In effect, the successful bidders for FM licence just have one day left to pay up the bank guarantee, which serves as the annual licence fee.

Big players such as the Zee group's New Media Broadcasting Co Pvt Ltd and Observer group's Observer Network have not paid up the bank guarantee yet. This has given rise to a lot of industry speculation on whether Zee and Observer groups are at all interested in the FM business or not.

According to a top official in the Information and Broadcasting Ministry, a lot of players have promised to pay up on October 30, which is the last day for paying the bank guarantee. He, however, did not divulge their names. The I&B Minister, Ms Sushma Swaraj, has also expressed confidence that all the successful bidders would pay up by October 30.