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Soak the rice in enough water for 30 minutes. Drain and keep aside.
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Combine the saffron and warm milk in a small bowl, mix well and keep aside.
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Heat the ghee in a pressure cooker, add the cashewnuts, almonds and raisins and sauté on a medium flame for 1 minute.
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Drain, remove the nuts and keep aside.
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In the same pressure cooker, add the cumin seeds, bayleaf, cinnamon, cloves, cardamom, peppercorns and fennel seeds and sauté on a medium flame for 30 seconds.
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Add the onions and sauté on a medium flame for 2 minutes.
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Add the ginger paste, garlic paste and chilli powder and sauté on a medium flame for 30 seconds.
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Add the rice and salt and sauté on a medium flame for 1 minute.
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Add 1½ cups hot water, saffron-milk mixture and coriander, mix gently and cook on a medium flame for 1 minute.
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Pressure cook it for 2 whistles.
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Allow the steam to escape before opening the lid.
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Add the prepared nuts evenly over the rice.
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Serve hot.