Boil the milk in a deep non-stick saucepan. Grind the drained rice into a fairly smooth paste. Add a little boiled milk in the ground rice and mix well.
Add the rice mixture to the boiling milk. Cook on medium heat till the mixture thickens. Add cardamom powder and rose water to the milk and stir well.
Take the pan off the heat and add crushed jaggery. Mix well. Add slivered almonds to the milk mixture and mix well.
Pour into individual earthenware bowls. Chill in refrigerator before serving.