Soak raisins in hot water for 15 mins till it plumps up, drain and set aside. Cut your bread into chunks and set aside.
Take 300 ml milk in a sauce pan and add your butter in it. Heat the milk so that the butter melts. The milk should be warm not hot.
Now take 50 ml milk in a bowl and add custard powder and mix well so that no lumps are formed.
Now add vanilla, sugar in it and whip it well. Pour the warmed milk in this and mix well.
Take a baking pan and butter it slightly. Lay half of the bread pieces in the pan and top it with raisins and cashews. Now arrange the second layer and pour the custard over the bread.
Press the bread so that the bread absorbs all liquid.Leave it out for 5 mins.
Now put it in the preheated oven for 45-50 mins or until golden and crispy on top.
Remove this and let it stand for 5 mins. Serve warm with cream and powdered sugar.