<h1>Public Sector Banks Must Disclose Financials, Prevent Fraud, and Enhance Oversight with EASE Reforms and Vigilance Measures.</h1> Public Sector Banks (PSBs) are required to have their financial statements approved by their Board of Directors and disclosed to stock exchanges, with copies sent to the Reserve Bank of India (RBI). Performance is reviewed by the Board and shareholders, with oversight from markets and regulators. An independent agency tracks PSB reforms through the EASE Reforms Index. Measures to prevent bank fraud include examining NPAs over Rs. 50 crore for fraud, establishing a Central Fraud Registry, and enforcing auditing standards. PSBs have vigilance mechanisms led by Chief Vigilance Officers, and penalties are imposed on erring employees following due process.