Heat 2 tablespoons of milk and add a generous pinch of saffron to it. Let the saffron steep through for few minutes.
Crumble the fresh paneer to small pieces. If using store bought paneer you can grate the paneer or crumble them to very small pieces.
Heat a wide pan with large surface area (helps in evaporating process and thickens faster). Add one teaspoon of ghee and melt it. Add 3 cups of whole milk and boil it for 5 minutes.
Add sweetened condensed milk and saffron milk and cook for 5 minutes till condensed milk combines well.
Add the crumbled paneer to the milk mixture. In medium-high flame cook the mixture for 12-13 minutes stirring often. The mixture will slightly thicken. Taste and adjust the sweetness.
Now add the finely chopped nuts and cook for another 7 minutes on medium to high flame. Finally add the cardamom powder. Rabdi should be semi thick, not too thick or too thin. Rabdi will thicken further as it cools and when it is refrigerated.
Refrigerate for atleast 6 hours before serving.
Enjoy the chilled Rabdi by itself or pair it with Gulab Jamun, Jalebi or Malpua.