The government on Saturday said it would create a third trading platform to revive the regional stock exchanges which have been hit badly after the rapid growth of Bombay Stock Exchange and National Stock Exchange.

"The growth of Bombay Stock Exchange and National Stock Exchange have cast a cloud on the growth of regional stock exchanges. So my effort will be to revive them through a third trading platform," Chidambarm told a CNBC investor camp in New Delhi.

The alternative platform when created would play a bigger role in reviving the regional stock exchanges, he said.

Retail investors can do business through these exchanges by connecting RSEs with BSE and NSE, he said, adding small investors need not come to BSE and NSE for business.

Regarding vanishing companies, Chidambaram said the government has been taking action against vanishing companies since 1996 and would continue to do so.

"The government will make public the action taken against them at appropriate time," he added.

The Securities and Exchange Board of India Chairman G N Bajpai, who also spoke on the occasion said: "India is a long term growth story. Micro fundamentals are good, so you should be playing a long term role."