Preheat the oven to 180 oC.
In a bowl, combine rava, baking powder, baking soda, milk, and curd. Mix all these ingredients well and set aside for 20 minutes.
In a mixer, add powder sugar, oil, butter, and essence. Beat well and transfer this mixture to rava mixture. Add maida and mix the batter well.
Pour the batter into a greased baking pan and bake for 30 minutes until the sides get brown and toothpick comes out clean.
Allow the cake to cool in the pan for 10 minutes and then remove it on a plate.
Iyengar bakery style rava cake is ready to serve. Cut it into slices and enjoy.