Soak little saffron in 2 tbsp of warm milk. Chop the cashew and almonds and crush some cardamom.
Turn the instant pot on Saute mode,add a tea spoon of ghee and melt it making sure it covers the entire pot and the sides. Cancel the saute mode. Now add the milk, ricotta cheese and sweetened condensed milk.
Mix it to remove any lumps. Make sure nothing is stuck to the bottom of the pan.
Press manual mode (or pressure cooker mode) and cook for five minutes. Release the pressure after 5 minutes.
The milk will look curdled, please don’t panic. Mix everything and soon the mixture will look like rabdi. . Add the soaked saffron milk, chopped nuts and cardamom powder and give a mix.
Check for sweetness and adjust. Transfer the rabdi to a different container. If you have rose water you can add it now (its optional).
Chill the rabdi for atleast 4 hours before serving. Just remember that the rabdi thickens further when stored in the refrigerator. If it is too thick for you, just add little cold milk.