Rinse the black beans and brown rice very well several times under running tap water. Keep aside.
Set the Instant Pot on SAUTE and set it on NORMAL.
Add oil and throw in the onions Saute for 1 min. Than add the garlic and saute until the onions begin to become translucent. About 2-3 mins.
Next, ass the bell pepper and mix well.
Add rest of the ingredients into the pot like - diced tomatoes, seasonings, rinsed black beans, rinsed brown basmati rice, chicken broth and the water, Give everything a very good stir and de-glaze the pot so that there are absolutely no bits and crumbs stuck at the bottom of the pot.
CANCEL the SAUTE function. Close the lid of the pot, seal the valve. PRESSURE COOK on HIGH for 35 minutes.
Once the cooking cycle is over the Instant Pot will begin to make a beeping sound. Wait for 10 minutes of NATURAL PRESSURE RELEASE (NPR) and than release the rest of the pressure manually by moving the valve from the SEALING to the VENTING position.
Carefully open the lid of the pot. Squeeze a generous dose of lime or lemon juice. Garnish with chopped cilantro leaves and enjoy! Read NOTES below for extra TIPS.