Mash the banana well, this step is very important.
In a bowl add wheat flour, maida flour, baking soda, salt, sugar. Mix them well for better result you can sift with sieve.
In another bowl add jaggery syrup, mashed ripe banana, shredded coconut, cashew and beat them well. Now add the mixed flour little by little to the jaggery syrup and mix well until it becomes as batter like we do for idli. NOTE: make sure no lumps are formed.
Heat the paniyaram pan on low medium flame. Add 1 tablespoon (tbsp.) of oil or as needed in the kuzhi (well).
Now add sweet paniyaram batter to each kuzhi (well) such that it fills 2/3 rd.
Cover and cook in low flame until the lower side turns brown. Flip each paniyaram with skewer or wooden stick. Once the flipped side is cooked and turns golden brown server hot.