Sieve maida/flour, baking powder, baking soda and salt into a bowl and keep aside.
In a bowl whisk together condensed milk, sugar and butter till smooth and light.
Then add the cocoa powder and mix well.
To this mixture add the sieved flour/maida 1 tbsp at a time and combine well, folding in gently. Make sure there are no lumps.
Add milk to the mixture 1 tbsp at a time till you get a smooth batter.
Brush a cake baking tray with little butter. Pour the cake batter and run a knife through the batter once in a cross pattern.
Baking in Pressure Cooker:
Heat the pressure cooker on high heat for 15 mins with closed lid. Do not put weight on the cooker and also remove the rubber from the lid.
Put 1 cup salt to cover the base of the cooker well(add more salt if needed) then put a stand in the cooker, and place the cake batter pan on top, close the cooker with lid and bake for 30-40 mins on the lowest flame. Time may vary according to the size of your pressure cooker.