Marinate the Paneer: Combine all the ingredients for marinating paneer in a mixing bowl. Set aside to marinate for at least 1 hour. The longer paneer sits in the marinade, the better it absorbs the flavors.
Wash and soak the rice for at least 30 minutes.
Heat 2tbsp oil + 1tbsp ghee in a pressure cooker. Add the whole garam masala and bay leaf; cook for 1 minute or until fragrant.
Next add the sliced onions and ginger+garlic paste. Mix well and saute till the onions are golden brown and caramelized, about 10~12 minutes.
Add the tomato paste and chopped tomatoes, cook till the tomatoes are mushy.
Add the red chili powder, ground coriander, garam masala and salt. Mix well and cook for 1 minute.
Next add the paneer with all the marinade and the chopped herbs. Mix well and add the rice along with 3~3½cups of water. Cover with the lid and pressure cook for 2 whistles.
Serve warm with raita and potato chips.