Transfer the ripe bananas, eggs, milk, sugar and vanilla essence to a blender. Blend into a smooth paste. Keep aside.
Next, heat a pan and add the sugar. Let it caramelize.
Take a glass bowl/dish and transfer the caramelized sugar into it and distribute equally.
Take a strainer and strain the banana egg mixture on top of the caramelized sugar. Distribute equally.
Use an aluminum foil to cover the bowl/dish.
Next, steam the mixture for 20-30 minutes on a medium flame. Insert a toothpick to see if it comes out clean.
Transfer the bowl/dish into the refrigerator and let it cool for 2 hours.
Take a plate and invert the cake on it.
Cut out slices and serve.