Make a fine paste of ginger garlic and keep aside. Bring 1 ½ cups water to a rolling boil and add the onions. Boil for 5 mins and remove them.
To a blender jar, add chopped tomatoes, boiled onions, cashews, cardamoms and yogurt(optional). Blend them to make a very smooth puree without adding water.
Press saute button on the instant pot and pour oil. Do not let the pot become too hot. Add bay leaf, cinnamon and ginger garlic (to a side into the oil). Saute for 30 seconds
Pour the onion tomato puree. Add red chilli powder, turmeric powder, salt, sugar, coriander powder and garam masala.
Saute until the mixture turns slightly thicker andaromatic. Cover with an external lid to avoidsplatters. This step takes about 5 minutes.
Pour 1 cup water and de glaze the pot well.Secure the Instant pot with the lid and position the steam release valve to sealing.
Press pressure cook button (low) & set the timer to 5 mins. If you want to put your rice together,soak basmati rice for 30 mins and drain the water. Place the rice bowl over a trivet and pour hot water.
When the IP is done, wait for 6 to 7 minutes &then release the rest of the pressure manually.
Stir the gravy. Add green peas and cook for 2minutes. (If you are using fresh peas, you will need to boil them separately and then add here.)To avoid splatters, cover the pot when you cook.
Taste test and add more salt if needed. If the curry is runny, cook it on saute mode for a few minutes.
Add kasuri methi, cream and paneer. Stir and Press cancel. Remove the steel insert carefully& cover the pot immediately. Let matar paneer rest for 10 minutes.