Wash the red rice 3-4 times or until it runs clear
Take the rice in a pressure cooker, along with the coconut and add enough water
Let the cooker pressure release on it's own
While the rice is cooking, take the jaggery in a pan, add 1/2 cup of water to it, heat it and let the jaggery dissolve completely
Strain for any impurities
Take it back to the stove and cook until it becomes a little thick
Once the pressure releases, open the cooker and add this thick jaggery syrup to it, crushed cardamom and ginger powder
Mix it well together
Let this sit on the stove in a simmered flame for the jaggery and rice to mix well
It will start to gel well and thicken, add the ghee, and take it off the stove when it is a bit saucy
The payasam tends to thicken as it cools, so it shouldn't be completely dry on the stove
Take it off the stove when it is saucy
Garnish it with roasted cashew nuts
Serve it warm or cold, to enjoy it's flavours
