Soak the rice for an hour in water. Take small grain or broken rice for this dish.
Switch on the gas, In a heavy bottom pan take ghee, once ghee melts add the soaked rice and mix it for a minute on low flame, then add full cream milk and cashew nuts and cook it for 15-20 minutes till rice starts cooking a little.
Now add coconut milk and grated coconut and mix well and again cook the pudding on low flame for another 20 minutes. Stir in between to prevent it from sticking to the bottom.
After 20 minutes or so you will se that the rice is cooked & the pudding has become thick, now add cardamom powder, jaggery and mix well.
Cook it for another 5-8 minutes on low flame and then switch off the gas and serve the pudding hot or cold as per your preference.
