Number of independent directors on decline; PSUs mainly responsible for reduction: Report SECTIONS Last Updated: May 14, 2021, 03:31 PM IST Share Synopsis The total number of IDs reduced to 2,249 in 2020 as against 2,396 in 2019 and 2,494 in the previous year, said the report by Institutional Investor Advisory Services India Limited (IiAS) based on the study of the board composition of NIFTY 500 companies as on December 31, 2020. Agencies RBI's recent regulations on governance of scheduled commercial banks also have a carve-out for PSBs, given them an unnecessary differential status, it said. The total number of independent directors (IDs) has decreased in 2020 as compared to 2019 and 2018, and the reduction is mainly on account non-appointment of directors on boards of state-owned entities, according to a report.