In the instant pot on sauté mode, heat 1 tablespoon of ghee and 1/2 tablespoon of oil.
Once the fats are hot, add cumin seeds, bay leaf, sliced onions, minced garlic, cashews, cinnamon stick, and cloves. Sauté until the onions are golden brown.
Add red chili powder, garam masala, and salt to the pot. Sauté for another minute until the spices release their aroma.
Add soaked chana dal and water to the pot. Boil for 3 to 4 minutes.
Add rinsed basmati rice and raisins to the mixture. Combine well.
Close the instant pot lid and set it to pressure cook on high for 4 minutes.
Once the cooking is complete, let the pressure release naturally for 5 minutes, and then do a quick release.
Fluff the pulav with a fork, add lemon juice, and garnish with chopped coriander leaves.
Serve your delicious chana dal pulav hot with a side of raita or your favorite yogurt-based dish.