Wash and drain basmati rice 2~3 times until the water runs clear. In a medium size bowl, soak the rice in water for at least 20~30 minutes.
Instant Pot Method:
Select 'Sauté' on the Instant Pot and when the pot is hot, add oil. Stir in the spices and cook for 30~40 seconds or until they are fragrant and lightly toasted. Add the onion, green chilies and cook for 4~5 minutes, stirring occasionally, or until lightly browned around the edges. Add the ginger-garlic paste and cook for 1 more minute. Stir in the chopped herbs and cook for another minute.
Drain the water from the rice and reserve the water. Add the rice to the instant pot and stir gently to get all the grains coated with the spiced oil mixture. Cook for a minute. Then add the reserved water, salt and stir to combine. Make sure to scrape the bottom of the pot to loosen any browned stuck bits.
Place the lid on, lock it, and close the steam valve. Turn off Sauté mode and select 'Manual/ High-Pressure' and set the timer for 5 minutes.
When the timer sounds, natural release the steam for 10 minutes, quick release the remainder. Open the pressure cooker and gently fluff the rice. Serve hot topped with toasted cashews.
Stovetop Method:
Heat oil in a medium size sauté pan on medium heat. Stir in the spices and cook for 30~40 seconds or until they are fragrant and lightly toasted. Add the onion, green chilies and cook for 5~6 minutes, stirring occasionally, or until lightly browned around the edges. Add the ginger-garlic paste and cook for 1 more minute. Stir in the chopped herbs and cook for another minute.
Drain the water from the rice and reserve the water. Add the rice to the instant pot and stir gently to get all the grains coated with the spiced oil mixture. Cook for a minute. Then add the reserved water, salt and stir to combine.
Bring the mixture to a boil on medium-high heat. Then lower the heat to medium-low, cover the pan and cook till all of the water is evaporated. This takes about 12~15 minutes.*Leave it covered for 5~10 minutes. Then gently fluff the rice. Serve hot topped with toasted cashews.
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Notes
For more flavor, you can use ghee instead of oil in the recipe.
This rice is great when served with a gravy side dish and raita. I served with Shahi Baingan.
This has to be done low and slow to get the maximum flavor from the onions.