Add rice to a medium-deep saucepan and fill it with water till the rice is completely covered.
Wash the rice by gently rubbing them with your fingers to dislodge any dirt and starch.
Change the water couple of times till the water runs clear. Drain the water and add 3 cups of water to the rice. Let the rice soak for 30 minutes.
Drain the rice and set it aside.
Place a wok/kadhai over medium-high heat and add ghee. Once the ghee is hot, add cumin seeds and once it starts sizzling, add green chilies, bay leaves, and cinnamon stick. Fry it for about 10-15 seconds and then add rice.
Saute the rice for about 1-2 minutes before adding salt and 2 cups of water.
In approximately 6-8 minutes, the water will start to boil and evaporate from the surface. When craters appear, cover the saucepan with a tight-fitting lid and turn down the heat to the lowest setting and cook for another 5 minutes and turn off the heat.
Open the lid and let the steam escape.
Resting the rice: Cover the saucepan and let the rice rest undisturbed for 5 minutes – this allows the steam coming out of the rice to redistribute and allows all the layers of the rice to evenly cook.
Wait for 5 minutes and then fluff the rice gently with a fork and sprinkle chopped coriander leaves. Serve hot.
Instant Pot cooking:
Drain the rice and set aside.
Add ghee to the steel insert of the Instant Pot and press the Saute function. Press the Adjust button to move the selection to “Normal” and wait until the display reads “Hot.”
Once the ghee is hot, add cumin seeds and once it starts sizzling, add green chilies, bay leaves, and cinnamon stick. Fry it for about 10-15 seconds and then add rice.
Saute the rice for about 1-2 minutes before adding salt and 1 cup of water.
Press the “Warm / Cancel” button and then select “Pressure Cook.” or "Manual" depending on your model.
Adjust the time to 5 minutes and set the pressure selection at low. Cover the Instant Pot lid and lock it. Make sure the vent is at sealing position.
Once the cooking cycle completes, the Instant Pot will switch to the Warm cycle. Press the Warm/Cancel button and carefully release pressure. Open the lid and let the steam escape.
Resting the rice: Cover the Instant Pot and let the rice rest undisturbed for 5 minutes. Fluff the rice gently with a fork, sprinkle chopped coriander leaves and serve immediately.
Follow the 1:1 ratio when making basmati rice in an Instant Pot whereas on stove top follow the 1:2 ratio where for every 1 cup of rice, you'll need 2 cups of water