Mix together 2 cups of water and 2 cups of milk and boil.

Add rice to it and cook well.

Add the remaining milk, condensed milk and sugar and allow it to boil.

When it begins to thicken, add cashewnuts and stir continuously, till it becomes quick thick.

Mix the cardamom powder with a little milk and add it to the payasam.

:-Serve hot or chilled.