The Sensex and the Nifty have fallen over 7% in recent weeks. Oil prices are elevated. The conflict in the Persian Gulf is ongoing and perhaps heating up more. As you watch the news, or look at your portfolio, it is natural to feel unsettled. I am not going to tell you otherwise.

The word digital gets used a lot these days. Digital bank. Digital wealth manager. Digital everything. And don’t even get me started on how everything is now apparently powered by AI.

As we turn the page to 2026, I have been thinking a lot about the nature of change.

As we close the chapter on 2025, I want to begin with a simple note of gratitude. Your support through Scripbox’s milestones this year has been deeply humbling. As I often say, these achievements belong to you as much as they belong to us. Thank you for your trust.

This month, I’m writing with a deep sense of gratitude. Scripbox has now crossed ₹20,000 crore in client wealth. It’s a milestone that fills me with both pride and humility.

This time of year brings a unique sense of abundance. We see it in the boxes of sweets we share with neighbours, the thoughtful gifts we choose for our loved ones, and the bonuses we give to our household staff.

This month, given it is the beginning of a period of festivities, I am taking a slightly different tack, from my previous wealth letters to you. 

This month, as we reflect on the hard fought freedom earned by a previous generation, it feels right to consider the independence we seek for ourselves.