Soak the dried yellow peas overnight.
Plug in the Instant Pot, transfer the soaked dried peas into your instant pot container along with the soaked water and press the pressure cooker mode on and set it to high-pressure level. Set the timer to 3 mins and latch the lid. Set the vent to sealing position. Let it pressure cook.
After 3 mins as soon as the instant pot starts to beep, quickly release the pressure by moving the vent to the venting position. When the pressure is released completely pour the content of the container into another bowl and set it aside.
Next press the saute mode and set it to normal. Add mustard oil. When the oil becomes hot add bay leaf & dried whole chili & allow it to sizzle for few seconds.
Next, add the ginger paste, cumin paste & the coriander paste, turmeric & red chili powder and saute until the raw smell completely disappears.
Now, add the cubed potatoes saute for a couple of minutes & then add the tomatoes. Saute until the tomatoes become mushy and start to release oil.
Now add the cooked dried yellow peas along with the water that they were boiled in. Stir everything well.
At this stage, you may either pressure cook at a high-pressure level for 1 min or just simmer away at the saute mode set to low settings until the potatoes are just done.
Serve hot. Garnish with chopped onions & green chilies.